Reply to WaPo -- New cars out of reach for many

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]People who buy new cars are either rich or bad with money. Sometimes both.[/quote]

This used to be true, but cars last a lot longer now and these days buying used is not always a better deal. [/quote]

I've never purchased a new car, but right now my choice is:

(a) New 3 row SUV in mid-range trim for ~45K.

(b) Same car 2 years used for ~$36K.

I typically keep cars for approximately 8 years, would extend to 10 with a new car.

Looks like pretty much a wash to me:

Used: $36K/8 years = $4,500 per year ownership cost
New: $45K/10 years = $4,500 per year ownership cost

I assume residual value after ownership would be roughly a wash.[/quote]

And with a new car, you know what you are getting.  I always question why someone would be selling an originally $45K car after 2 years?  Whats wrong with it?  IMO much better to buy new and have the full warranty. 
[/quote]

You know what you're getting all right...ripped off. There is nothing wrong with buying a new car, but anyone somewhat knowledgable about cars can get a much better deal on a used car purchased from a private party. I've bought 3-5 year old Corollas and Camrys at a cost of approx 50% of retail. Most bit the dust around 300-350k miles.  This was several years ago, so maybe things have changed since the pandemic and all of the supply chain issues.[/quote]

I encourage you to shop around online and see if you can still get 3-5 yo Corollas and Camrys at 50% of the new retail price.  I think you'll find that's harder than it used to be.[/quote]

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