Drive your car to death, save $31,000

Where do you come up with that $5000 crap? I bought a 2007 Mustang GT convertible in August of 2006 a traded a 2005 Mustang GT convertible my total drive home price was $4,500.

Even if what you believe to be true, was true, why would anybody buy a new car and trade it in the following day, in any event??? LOL

mike

The only vehicle I ever owned that broke down in less than two years was a Honda. It blew an oil seal at around 30K, while one of my grand daughters was driving it on the interstate and fried the engine. I had to engage an attorney to get it repaired. Honda wanted me to "prove I used the proper grade of oil" since it was serviced by a Lincoln dealership not a Honda dealership. After they put in a new engine I sold it. ;)

mike

>>>>

The only GM stuff I own today is their stock LOL

mike

>>>>>

Well Mike - if you said that before, and you're saying it again now, then you're wrong on multiple occasions.

Once a car has been titled it is "used". Why would somebody buy a used car when they can buy a brand new for not much more plus you have dealership profit. So, say you bought a V6 Mustang for $20K brand new and 4 month later you decided to upgrade to a GT. The dealership would give you $14K for your used mustang because they won't be able to get a buyer unless they price it at least $4K less than a new one. Dealerships make big profits on used cars not on new cars. That $4500 cost on a 2 year old car you are referring to is total crap. I would say keep your lousy $4500 savings and I will buy a brand new that is 2 years newer. Unless you are selling it privately and a moron decides to buy it.

Indeed there are people that buy new that can not afford new, as well. But like I said people that can afforded to buy new vehicles, buy new. People that can not afford to buy new, buy used, but people that can afforded to buy new vehicles can also invest wisely. That is one reason they no longer need not buy used vehicles. LOL

mike

I could not care less what you chose to believe. For one thing an '05 on the lot in August of '06, when I purchased the '07, is not perceived as a two year old car by a used car buyer.

I started buying Mustang GTs convertibles with the '99 in October 1998. In the fall of subsequent years I purchased an '01, '03, '05 and then the '07. I paid out $4,500 for the 07 all the other were less, because the price went up on the newer models.

mike

Sounds like no one is going to change your elitist mind on this one.

For years, Warren Buffet drove a old non descript beater, I can't remember exactly but it might have been an Oldsmobile. But I guess he was not able to afford a new one every two years like a money bags like you, huh? Lately he switched from a Lincoln to a DTS Caddy.

Personally, I like investing in things with a positive return rather than new cars, but I don't require an ego boost some get from buying a car.

In other words you can not afford to buy a new car, right? LOL

mike

I did not want to boast of this fact, but if you are that curious, I have enough investments to buy multiple new luxury cars for cash and have enough left over to pay off my mortgage if I wanted to (but at my low rate I don't). So its just that although I like cars, I enjoy not blowing a lot of money on new ones when I can get great vehicles I like for a lot less cash. It take more car know-how to deal with used vehicles, so for folks who are mechanically inept and paranoid about breakdowns, or those looking to impress they are some of the crowd that frequently buys new cars. No offense to that group, I like them for putting so many good late model used cars on the market after they took the depreciation. FYI, I work advising people about investing money and planning, so I ought to have my ducks in a row. This is why I think you are full of crap with your statement and chose to differ. Anyway, this is not a particularly interesting conversation, later.