That's easy. In the last month I needed to buy a car. My van is pretty unreliable. My 2 Miata's only hold two people and it's been a real pain taking two cars when 3 or 4 of us have to go somewhere at the same time.
And I can't find a used car I want at a price I'm willing to pay. The math just isn't working out. At least not in my favor.
I found a 2008 Toyota 4Runner. 60k Miles for $19,000
6 years old. Now mind you this car was around $29,000 when new. The new model can be had for $34,000 with tax. $0.25 per mile is really cheap for those first 60k miles. He may have put on a set of front brakes and possibly a set of tires but that's about it except oil changes.
The next 60k miles and 6 years will probably see this car go to 8 or $9,000. That's a pretty linear depreciation. That's actually the sign of car that holds it's value. This is the kind of car you can buy new or used and you won't go wrong.
Did I mention that my Mother has a 2000 4Runner with 174k miles. New $20,000. Less than $200 a year to maintain. That includes tires, brakes, oil changes and batteries. That's less than $0.12 a mile, that's 12 cents, even if she junked it today. But, it still runs great. The key to that might just be driving your car like an old lady (she was 70 when she bought it). Also doing routine maintenance. Keeping it in a garage it's whole life.
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