Re:Why car insurance in America is too cheap
by SoftTalker on Saturday February 03, 2024 @08:57PM
(#39246773)
A bit of a tangent but this is one of the biggest reasons I don't buy new cars. The depreciation in the first few years is astonishing. You are immediately underwater and will be until you've paid off at least half the loan balance (this is not the same as paying half the payments).
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Re:Why car insurance in America is too cheap
by acjohnson55 on Saturday February 03, 2024 @10:55PM
(#39247411)
My previous car was new, but only because we were buying a minivan and there were significant new safety features just introduced. But totally agree that buying used makes sense if there's not a significant difference in functionality.
Re:Why car insurance in America is too cheap
by nktrnk on Monday February 05, 2024 @12:41PM
(#39264001)
There are brands (and probably is market dependent too) where this isn’t always true. Where I live, a 3 year old Toyota or Honda costs 10-15% less than a new one. In that case, it doesn’t really make sense to buy a used one if you can afford it.
Still, I also buy cars used. But I go ~10 year old, from a reputable low maintenance brand and model.