Quote:
Originally Posted by hulkrogan
If we're cherry picking examples, then I'm going to pull out a car I know of that was bought in '08.
2004 Audi S4. Sold for just over $80,000 when the first guy bought it.
Resold in '08 (3.5 years old)
-40,000km
-bought from a dealer so CPO (2 more years of factory warranty bringing it up to 3.5 years of warranty for me, this obviously raises the sticker price).
-$41,000
Buying new the finance rate was actually worse than used, so we'll throw that out the window and go straight depreciation.
Buying a new one, 3.5 years later you've had $40,000 in depreciation.
Buying a used one, 3.5 years later that car was worth ~$23,000 still. Just finished the warranty.
That is a freaking huge difference.
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Buying new is a huge kick in the nuts for sure but I'm willing to lose 30k in 3 years knowing that no one shagged in my car. I paid about 88k for my car and would be lucky to get mid 50s if I sold now.
I did pay cash for my MDX since they gave me $7000 off at that time.