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Reply to "Buying New vs. CPO"
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[quote=Anonymous]If I've heard once, I've heard 100 times, "buy used and let someone else pay the depreciation". But here is my situation. Retiring in two years and for once, would like to have a luxury sedan vs. the years of minvans, SUVs, and yes, a Chevy Malibu. So looking at a BMW 3 series to keep "forever". New, can probably get it for $48K + tax. CPO, $33+tax. So a $15Kish difference. Now if I want to keep the vehicle for 8 years (and that is probably the vehicle's lifespan), isn't it better to buy new? New I get three years free maintenance and $48K/8=$6,000 per year of ownership/ But the CPO already has three years of wear on the car. So if I take $33K/5, I get $6,500/year or it costs $500/year more. Plus buying new, I "know" the car. Anything missing from this equation. I would probably put about $25k to reduce interest costs.[/quote]
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