Going crazy at work - new car related

[LivingAlmostLarge]

See for the 2005 kbb prius, it costs 19.9k excellent, 18.7k good, 17.2k fair when buying from a private party. This is not that much different from the new prius which is $21k invoice, $22k MSRP. So it costs like $2-3k for a 2 year old used car? What the heck?

[disneysteve]

See for the 2005 kbb prius, it costs 19.9k excellent, 18.7k good, 17.2k fair when buying from a private party. This is not that much different from the new prius which is $21k invoice, $22k MSRP. So it costs like $2-3k for a 2 year old used car? What the heck?

You are picking a very high profile, high demand, limited supply car. In that particular case, you may be right. Buying new might make more sense.

In general, though, for regular run of the mill cars, it doesn't work that way.

2007 Toyota Camry LE V6: $22,952
2005 Toyota Camry LE V6: $15,850 (private party)

That's about 31% less.

[LivingAlmostLarge]

Cool, but Steve if I were to buy a new car I only want to do so for a hybrid!

But the other car I looked at was a toyota matrix 2005 2WD $13.3k excellent or $12.5k good. And new 2007 is $16.8 MSRP and Invoice is $15.6. You are only looking at a savings of $12.5/$16.2 = 23%. I don't know if it would be worth it. Plus looking online at carmax most of these cars don't have low miles nor are they selling for $12.5. Those crazy people are asking so much more.

[tabbycat31]

I saw a commercial for a new Corolla for 13K (with dealer incentives). Then I saw an ad in the Pennysaver for a 2003 Corolla for 10K with 65K miles on it.

Personally I'd rather pay more for the one without that kind of mileage

[sunsetssplendor]

This is between her and her Father... who are you to intrude
in their business?

[disneysteve]

This is between her and her Father... who are you to intrude
in their business?

I wasn't intruding. She brought it up and was asking if we thought it was a good deal. I, and 2 others, proceeded to try and explain why it was not.

[thekid]

This is between her and her Father... who are you to intrude in their business?

Really, what's the point of posting stuff like this?

How do you feel he "intruded" in an unacceptable manner? He stated his opinion to someone who had asked for it.

Then, he related, in a personal finance forum, a car trade-in situation he came across. It lead to some pretty interesting discussions relating to car purchases, which is a pretty big expense item.

[thekid]

I saw a commercial for a new Corolla for 13K (with dealer incentives). Then I saw an ad in the Pennysaver for a 2003 Corolla for 10K with 65K miles on it.

Personally I'd rather pay more for the one without that kind of mileage

That is close to 25% depreciation. However, I do feel that the asking price for that used car is very steep because of the high mileage. You can most probably find much better deals on used Corollas.

[disneysteve]

I saw a commercial for a new Corolla for 13K (with dealer incentives). Then I saw an ad in the Pennysaver for a 2003 Corolla for 10K with 65K miles on it.

Personally I'd rather pay more for the one without that kind of mileage

Assuming they are comparably equipped, that used car is way overpriced. Remember, what someone is asking and what they will actually get can be two totally different things. Some people have an overinflated view of what their used car is worth.