Premium vs. Regular Gas.

So, if someone has a net worth of $100 million, you think they would be stupid if they bought a new, rather than used, Lexus?

Sam Walton drove around in an old pickup truck.

Maybe he knew something others don't.

Make whatever cause/effect conclusions you'd like.

I for one am quite glad that a lot of people think they need to be driving a new car around and ditch whatever they're driving once it gets a few years old. As far as I'm concerned, the value aspect doesn't really kick in until the depreciation starts to level off. Let them have their new cars, and that'll just mean more choices for the rest of us.

I also wear some old Swiss watches from the 60s and 70s that were very expensive in their day, but are a great value today (although still a bit pricey).

The vast majority of people with a net worth of $100 million or more buy new (as opposed to used) vehicles. Are they all stupid?

It's up to you to do the comparison. Here's a data point on MPG with the recommended fuel for this model and year.

Sam Walton wasn't the vast majority. He was better than that.

Are they all stupid? No, because the equation is different for them. However, you might see such a person buying a used car for whatever reason--for the same reasons Sam Walton drove around in an old pickup truck. Does that make him stupid?

Are you a member of the $100 million or more club? Is that what you're saying?

david, we are going thru the same decisions right now. we got a price on both a new and used Lexus; they were $5k apart.

our thinking was 'pay the extra $5000 and drive a new car' (i believe the used was an '05). i realize the arguments about new car depreciation, etc. but $5000 doesn't seen like a hugh difference.

but we haven't yet made up our mind.

If I couldn't afford a new Lexus, I would buy a new Camry or Accord. Even cars with great reliability ratings start to have repair problems after a few years. New cars have far fewer problems and are covered under warranty.

Also, I just like having a new car. Not someone else's used car. You never know where it's been, who used it, or how.

Further, new cars have features old car don't, like navigation, etc.

"dulles" quipped:

a data point is only good if there's something to compare it to. Otherwise, it means nothing. It means zero for me to compare *your* vehicle in *your* area with *your* regional mixture of gas with mine.

Additionally, your driving habits and road conditions may be vastly different than mine. The comparison is only effective if you tell us what you get with YOUR car on regular gas under the same driving conditions your use premium on.

You need to compare apples to apples.

That's exactly my point.

Everyone has to make a choice as to whether they would prefer to have the extra $5,000 or a new car. It's a choice based on a variety of factors including the person's net worth. There are no blanket right or wrong answers to this decision as you indicated earlier.

Of course not. Don't put words in my mouth as a way to deflect attention from the fact the you made the incredibly stupid statement that anyone who buys a new car is "stupid."

No, I'm just trying to get it through your thick head that everyone who deviates from the world according to Elmo and/or the Elmo way of life is not stupid, that's all.

The fact remains, anyone who buys a new car is throwing perfectly good money away.

Whether that qualifies as "stupid" in your world, is up to you.

"Elmo P. Shagnasty" quipped:

I LIKE people who buy new Lexi. It makes a much bigger market for the rest of us who prefer CPO'd Lexi.

Incidentally, I'm not "rich" by any stretch of the imagination, but I am considered in the top 1% upper percentile income bracket (just ask the IRS), and I still prefer to buy a CPO'd Lexus. For *me* anyway, it allows me to own the car I want and still have money left over to buy other things. It allows me more options with the same amount of money.

Buying new isn't always best either. IIRC, the CPO'd warranty is actually *better* than the new car warranty.

I personally, I'd never, ever buy a NEW house again either. I'll let someone else handle the nightmare of contractors and faulty construction.

You haven't a clue as to how stupid you sound, do you?

Apparently, that's not possible.

To you? Doesn't bother me.

My previous vehicle was a new Ford product (rapid depreciation, not smart). I recently purchased a 2003 ES300 Lexus certified with luxury pkge which still has 1 yr complete warrantee + an additional 2 yrs power train, 58,000 Km (Canada), one owner, always serviced at Lexus, for a good price. This is my 1st luxury used car and I just love it including the fact it is affordable for me without going into serious debt. For me, this feels like a new car without the burden of big debt and initial years depreciation. To each their own.

I wouldn't spend much time reading useless information (for *you*) then. "Good" is only a relative term for *you*. A data point is only a point.

Value is relative. If you feel you get good value from a new car, that's your business. IF you feel you get good value from a used car, that's your business. Value is not always related to $$.

"dulles" quipped:

look..I'm trying to be nice and educate you but it's pretty apparent that you're either too stupid to comprehend what I'm trying to say or I need to get bigger crayons.

Either way, never mind.

I don't really see the value in always having to have a new car and going through the buy-sell at a loss-buy again cycle over and over again every few years. To me, it sounds like a response, at some level, to product marketing. That's how car companies make money: by getting you to think that your old car isn't good enough anymore. Those of us who buy used really aren't helping Lexus out all that much.