New VS Used car financing

[nootrac22]

Screw financing. Pay Cash.

single dad = no cash, i have to finance unless I pick up a beater for $1500, and that's the situation I'm trying to get out of.

can't pay cash. after going over my budget I'm gonna try to make this car last another year or so. I have a refinance coming up on the house in july. I'm trying to get rid of debt untill then. If I hit the bills hard I might make tier 1 credit by then. Hopefully I'll reduce my mortgage by $100-$150 a month then I'll have some money to play with. Still I think I'm gonna go take some cars for test drives for shits and giggles.

 

[totalburnout]

I have never really lost that much by buying new. Maybe I have been lucky. I actually made over 4 grand when my 04 Silverado got totaled. It had 16k on it and I got a check for 4k more than I paid for it. Infact m,y 06 is worth 1200 (private value) more than I paid for it a year and 12k miles on it later.

You made money because of your low mileage. I would guess that you beat the national average of 12,000-15,000 miles annually.

 

[Jeef]

That truck was only 9 months old when I got hit. SO it was a little over average. I would hate to see how much the mileage on my 06 e150 work van affected the value. Its an 06 with 100k on it.

 

[posol]

rofl

 

[Airjockie]

I don't know.....

I know once you drive off the lot with a new car...it's value drops $5K's...

but all the new cars I see compared to the price they are selling the older cars...I'm not really seeing a difference in price...

but I'm looking at 05 subaru outbacks and toyota tacoma's....

the 05's are still hitting in the $20-23K's range with 12,000-30,000 miles...and the new 07's and 08's with zero miles are only in the $23-26K's area....

A guy at work just snagged an 08 Tacoma for $25K's....with TRD and all the damn options...but he had a decent trade in that was worth only $3000....

 

[posol]

I know once you drive off the lot with a new American car...it's value drops $5K's...

fixed.