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If I need to buy a car and I want to keep it for about 50,000 miles (because then I might want to switch to a different size for kid reasons or whatever), and I’m paying cash, which 50,000 miles are the best value relative to the cost of the new car? Should I buy a new car and sell it at 50,000 miles, or buy a used car with 25k miles and sell it at 75k? Or buy at 50k and sell at 100k? Assume a reliable, mid range car like a Toyota or something. Not hybrid or electric.
I know there are a lot of factors like maintenance and such but just an average car where nothing terrible happens. |
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The used market kinda sucks right now so pickings can be slim if you want something specific. Rebates on new cars as well as lower rates on new car loans might make a new car a better option.
Personally, I’d probably buy used - but a decade old and 100k miles IF it was in what I thought was still good condition and almost fully depreciated - because I could turn around and sell it 50,000 miles later for what I paid for it and lose almost nothing on it. But I’m an exception because I work on my own cars and don’t worry about stuff breaking down or what it costs to fix since I’m doing it myself. |