What’s your frequency for buying new?

[Anonymous]

I think if l was buying an EV I’d want to go new. Since the tech is changing so rapidly.

For a gas car I usually buy gently used. DC has a lot of people here on shortish assignments so it’s easy enough to find a 2 or 3 year old car of someone who is moving overseas and wants to sell. Got a 1 year old Subaru Outback that way from a person selling, not a dealer. But l haven’t bought a car since before COVID so maybe things have changed.

I keep my cars until they’re 15 to 20 years old. We don’t put a ton of mileage and we’re pretty handy. And l don’t use cars as a status symbol.

[Anonymous]

Anonymous wrote:Spouse and I bought our first car in 2019 for cash (Subaru Outback). Have had it just over four years and we are putting around 10K miles per year on it. Currently at 38K miles and 4Y3M of ownership.

Thinking about new tech, safety features, and mileage improvements I’m think we sell this one and get a new one in late 2027 or 75K miles, whichever comes first. Subaru is allegedly incorporating Toyota’s hybrid engines in their fleet in the next year or two, so would love to get one of those (especially if it’s PHEV).

Is there a particular frequency or mileage limit for cars where you buy new? Obviously, we’d love to get the most money possible for our used vehicle. It seems like 75K is a big mental barrier for people who want to buy used.

Is there a method to the madness?

It doesn't make sense to think of a car as an asset you can sell for the most money after you use it. We are not concerned with resale value of cars. My 15 year old Camry with 150k miles on it has been worth way more to me financially per year for the last 10 years with no payment and no collision coverage than had I been driving a new car.