Quote:
Originally Posted by allinon72
Even if you plan on keeping the car 50 years, is there really a difference between a brand new car and the same car with 5,000 miles, for example? It's the same car, without thousands/tens of thousands of near instant depreciation. Now, if you have a certain net worth, this conversation is irrelevant. But if you have a net worth of under 1 mil, it really doesn't make financial sense to buy a new car, finance or cash.
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Chances of finding the exact car I want with only 5000 miles is pretty slim to nil for one. This car would be either a demonstrator or I would question why someone would turn a car back in which is for all intents and purposes barely broken in. Although based on a few posts which have appeared on here about owners wanting to get out of a car that isn't even a year old, I guess it's becoming more common.
I have my reasons as to why I buy new. I do well for myself. I don't need to justify my purchases to anyone on the Internet. As I said, I know I'm not maximizing dollars spent on a car by not going used. But I'm certainly not pissing away money as you and others imply. Most of my cars have been econoboxes. The 135i is the first time I "treated" myself to something way beyond just basic transportation. I did finance all of my vehicles. Some I didn't put any down payment on the vehicle. Others I did. I put down a substantial down payment on the 135i. I've also taken out loan terms on all the cars at 5 years. I've paid all of them off well beyond reaching the loan term. I did this to give myself some flexibility if I needed it for monthly expenses. All the vehicles were financed at 1.49% fixed.
You've said it in your quoting of my first reply in this thread that I'm a rarity. There's more of people such as me out there than you think. I'm just rebutting the tired assumption that anyone who buys new is burning money as the assumption is I'm living beyond my means, I'm going to flip the car quickly, I'll be falling into the perpetual cycle of rolling over negative equity, etc, etc. None of that applies to me.