Quote:
Originally Posted by poundwise
Depreciation is the single greatest expense in vehicle ownership and the biggest hits come in the first few years. Opt for a 2-4 year old vehicle and you'll instantly save thousands while still gaining many of the benefits of newer car ownership.
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This is generally true, but as a couple of people have pointed out, right now we are in strange times. Some 2-year-old cars are NOT selling for 20-25% less than comparable new cars, as has been the norm. They might only be selling for 5-10% less, and sometimes not even that big a difference. Which would you buy - a 2-year-old model with 24,000 miles for $20,000 or a brand new one for $22,000 and full factory warranty? I'm always in the used car camp, but I realize that there can be exceptions to that philosophy.