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Reply to "Tell me how much I can afford to pay for a new car"
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[quote=Anonymous][quote=Anonymous]Okay, here's a comparison. OP can spend $19-24K for a new Mazda3 depending on the bells and whistles. She can get a 1-2 year old Mazda3 with under 20K miles on it for $15-16K at Carmax. So she can save between $4-6K one 1 year of car life. That's between 20-30% of the value of the car. And realistically, it's about 1 year's worth of car ownership since driving 15-20K miles is pretty average for this area. If you tend to drive a car 10 years, that one year is pretty negligible, but $4-6K is much more significant.[/quote] For the sake of argument, I checked the 1 year old Toyota Camry. A 2013 at Carmax is $18,500 and a new one is listed as $20,500. So you're only saving $2,000 on a 1 year old used Toyota. Maybe you can save more on a less reliable vehicle? [/quote]
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