Buying a car

Just sold a Honda. '88 CRX with 309,000 miles on it. Bought it brand new in 1988. Never did anything to it other tahn general maintenance.

Figured it up one time and with gad, insurance, taxes and everything it cost me an average of .03 cents a mile to drive the thing. If I had kept it another year it probably would have started spitting pennies out of the exhaust.

Still sold it for $1300.00. :shakehead

 

Buy a real car Davebiatch..............

 

Here ya go!

 

that car dui proof?

 

I don't know Dave....I think he needs a reminder

 

guess this answers that dui question.

 

Nope but it cost more than your crack house, BIATCH!

 

Oh yes they do; depending on mileage and if you buy from a franchise dealer.

Hopefully my next car will be a three years old deVille w/30-35K miles w/some warranty left. There're good for 200K miles.

Plus, a new Cad looses $15K+ the first year; it's just starting to get broken in by then---a great buy.

 

I'm sorry, no offense but that has got to be the worst logic I have ever heard. A new car will depreciate 20% the minute you drive it off the lot. A $35,000 car will be worth $20,000 in 2-3 years. Some of the following is from an article on the subject, I don't have time to explain this all myself so read this or go to the link below for full explination.

Bottom Line: Do Not Buy New!

The hidden factor here is depreciation, the steady decline in the resale value of any vehicle that you buy. As a rule of thumb, figure that a car's value drops by half every four years. For new cars, the bulk of that depreciation occurs in the first year of ownership. A new $30,000 car is worth only $22,500 after just the first year -- a full 25% less. Over the next three years, its value will fall by another 25% off the original price to $15,000.

The longer you own the car beyond this, the smaller the bite taken each year by depreciation. If you bought the same car when it was four years old for $15,000 and resold it when it was eight, it would be worth about $7,800, according to CarPrice.com's Depreciation Calculator. So you save almost $8,000 over four years just on depreciation by buying used, to say nothing of added savings from insuring an older vehicle

But that's just part of the story. Let's take a look at the difference between buying a 2003 Lincoln Town Car and a similar 1999 model. The invoice price of the 2003 model, according to Edmund's.com, is $40,661; the cost of a 1999 Lincoln Town Car is about $16,000. The table below shows you the net cost of buying new versus paying cash for a used car and investing the difference. Overall, you come out almost $25,000 ahead!

New vs. used
Lincoln Town Car New 2003 Used 1999
Purchase price $40,661 $16,000
Tax & license (8%) $3,253 $1,280
Total initial cash outlay $17,280 $17,280
Amount financed $26,634 $0
Total finance charges* $3,980 $0
Maintenance** $610 $5,651
Total 4-year cost $48,504 $22,931
Resale value after 4 yrs. $20,310 $8,352
Net cost after resale $28,194 $14,579
$638 monthly payments invested over four years at 10% $0 $37,132
Cash available for on next car purchase $20,310 $45,484

*48-month loan of $26,634 at 7% with monthly payments of $638 for a total of $30,614. Despite the proliferation of 0% financing, many buyers simply don’t qualify.
**Maintenance costs driving 15,000 miles per year, based on Runzheimer estimates for 2001 and 1997 4-door sedans. First three years of new-car maintenance covered under warranty.

Your total net cost after four years is more than $10,000 less for the used car. And by investing your monthly payment instead of repaying a car loan, you've saved enough to pay cash for a brand-new Lincoln, if you want. The caveat, of course, is that you could be unlucky enough to suffer the early demise of your transmission or need some other major repair that blows a hole in your estimated $1,400 annual maintenance budget, though certified used-car programs are a great way to combat this (see below). Also, the 10% return on your investment is a historical average, and can be hard to come by in bear market like we've had for the last few years. But even cutting the annual return to 3%, you still come out with $32,468 in savings after four years of investing your $638 monthly payments. Add the $8,352 you get from selling your used car and you end up with $40,820 for your next car purchase -- roughly $20,000 more than you'd have after selling the newer model car.

http://moneycentral.msn.com/content/Savinganddebt/Saveonacar/P37267.asp