Posted on 08/31/2009 12:44:48 PM PDT by wrrock
Depreciation is the highest cost associated with a new car. For that reason alone, the resell value of the car should be one of the most important considerations when you buy a new car. If you’re leasing a car, it is the most important factor in determining your lease payment. The following is the list of cars that are expected to retain more of their value in the next three years. See List of Cars with Top Resell Value...
(Excerpt) Read more at cardealerreviews.org ...
#1 (imho) a USED car.
Want to buy a car that doesn’t lose its value, buy a used one. The biggest loss in value is right after you drive a new car off the lot. Buy a used one and let some other schmoe eat the new car depreciation.
They’re all roller skates.
That must be the future under the rule of Baraq.
Of course the newer the vehicle the higher the resale value...but all of these are 2009 models. I want to see perhaps a list with the top used card prices for vehicles where the last 5 or 10 year averages are considered. The should exclude the current model year into the calculation perhaps.
Not neccessarily, especially if you invest the money you save on the cheaper car. It depends on what you plan on doing with the car several years down the road.
If you consider the loss from depreciation and interest on a new car, which will cost more by far than the gas it burns, the price of gas is cheap.
Eight years ago we bought a 94 Lincoln Town Car for $2,500.
We drove it 140,000 miles over seven years with only $1,500 in maintenance.
We then gave it to one of our kids and they are still driving it.
Also consider what it costs for full coverage until the loan is paid off.
And when you’re done paying for all that, you have an asset that’s barely worth a fraction of what you just sunk into it.
A car is like a boat. A hole you pour money down.
It is an expense not an investment. You are better to never resell a car. Drive it until it quits, and junk it.
Too many Americans make the mistake of parking their wealth in their driveways. I never buy new cars or motorcycles or any vehicle. I get them several years old, dirt cheap, and drive the wheels off of them. The money I saved went into real investments.
Always remember, a vehicle is not an investment. No matter how many lying car salesmen say otherwise.
I got you beat. I bought a 1988 Honda CRX 6 years ago for $900. Had to replace the engine 4 years ago for $400. It gets 45 MPG and is still running strong. It looks like hell but I won’t give it up until it falls apart.
You got the right idea. The gas is free. (deducted from depreciation)
The national rental companies sell at auction to same brand new car dealers. The rental companies write off the depreciation and you can pocket the savings. The balance of the new car warranty is transferred.
I usually drive them for 7 or 8 more years and repeat the process. Very low cost of ownership.
Once I bought a 2 year old sports car, drove it for 7 years, then sold it for more than my original purchase price because by then it had become a collectors item. Still, minus speeding tickets, insurance, fuel, parking, and maintenance, it wasn't an investment.
Where is the best place to buy a one year old Honda Civic?
Every one of the cars listed is a cracker box on wheels.
Well, I guess a rollerskate is cheap to begin with so it should have a higher resale value ratio versus a more expensive vehicle.
Type in your zip code, make and model.
My luck with former rentals were Ford and Chrysler products. In this case high depreciation worked to my advantage as the used prices were significantly lower than new. It might not work this way with the Honda Civic because the depreciation is so low. Value and price not always being the same.
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