Anyone get a new car every year or two?

[herbicide]

You didn't quote the part where I said it works if you own the car and the car is in demand.

Ok, my bad.

IMO it still a needless expense (my vehicle costs are gas, insurance, and routine maintenance), but to each their own.

My boat is waaayyy more than 6K a year to operate (and I own it)

[herbicide]

underwear depreciates in value more slowly than most new cars do. i think it's crazy to pay interest on a depreciating asset (like a car). if you have the cash,or if it's a lifestyle thing, go nuts. financially it's imprudent.

last two cars I bought were on ebay. crashed the first one. bought some new underwear and got the second one.

How was the ebay car experience? I am thinking of getting a 2-3 year old BMW for my next car, and Ebay looks to be the best market for such a vehicle.

[Ames]

Ok, my bad.

IMO it still a needless expense (my vehicle costs are gas, insurance, and routine maintenance), but to each their own.

My boat is waaayyy more than 6K a year to operate (and I own it)

It's definitely a personal opinion. To have a really nice car, that's always new, and under warranty is worth $6k a year to some people.

[Ames]

How was the ebay car experience? I am thinking of getting a 2-3 year old BMW for my next car, and Ebay looks to be the best market for such a vehicle.

I've had friends do that. It seems to work well. Shipping has gotten a lot more expensive lately so factor that or the costs to go get it. I'd also look for ones in Texas or similar climates. If you are going to travel for a car you might as well know they haven't seen salt all winter and what not.

[herbicide]

It's definitely a personal opinion. To have a really nice car, that's always new, and under warranty is worth $6k a year to some people.

I have friends that do the same thing minus the "own" part of the equation. They have no idea what they are doing until they realize they owe twice what the vehicle they are driving is worth.

[herbicide]

I've had friends do that. It seems to work well. Shipping has gotten a lot more expensive lately so factor that or the costs to go get it. I'd also look for ones in Texas or similar climates. If you are going to travel for a car you might as well know they haven't seen salt and what not.

Yep, I am still wanting to get another year out of my existing daily driver.

All the cars I look at are in So Cal, Arizona, or Texas. I have more frequent flyer miles than I can count so I would make a trip out of it.

[Flag Guy]

I know someone that is looking to trade in his car that is only a year or two old... he is delusional to think that he'll get 80%-90% of the origional price back on the sale of his current car... everyone around him thinks it's a dumb idea but he's pretty much sold himself on it...

*sigh*

[jumbopackage]

If you own a good car and it is in demand used it seems to work. I have a friend that owns a $50,000 Tahoe. He trades every 2 years for $12,000. So basically he gets to drive a brand new $50,000 SUV always under warranty for $6k per year. He also gets a year free from OnStar every trade and a few months of XM. He doesn't lease because of the mileage.

I was trading for a new car once a year for a while. I finally found the perfect car and have had it for 3 years. It was expensive, but I considered it expensive toys/hobby.

A Tahoe, or any big American SUV is pretty much the very worst vehicle to try this with. They depreciate so fast and cost so much that you'll eventually end up in a pretty big hole.

I know someone that is looking to trade in his car that is only a year or two old... he is delusional to think that he'll get 80%-90% of the origional price back on the sale of his current car... everyone around him thinks it's a dumb idea but he's pretty much sold himself on it...

*sigh*

There are a select few vehicles that this works with, and they are generally named "Honda" or "Toyota".

[jbhtexas]

How was the ebay car experience? I am thinking of getting a 2-3 year old BMW for my next car, and Ebay looks to be the best market for such a vehicle.

I bought my pickup on ebay. Everything went very well. The dealer I bought from accepted CapitalOne auto loan checks, so I went online and got one, making payment a snap. I took a one-way flight to Houston and drove it back.

[Phaedrus]

Without figuring in depreciation or inflation, the average car payment is worth over $6 million over the working life of your typical American. If you think flushing $6 million down the toilet is a "great idea" then trading every couple years will probably work for you.

Me, I drive $2000 - $4000 cars and maintain the crap out of them. Most people would be surprised at how nice of a car you can get in that price range, if you know where to look and how to inspect them.

[Ames]

A Tahoe, or any big American SUV is pretty much the very worst vehicle to try this with. They depreciate so fast and cost so much that you'll eventually end up in a pretty big hole.




There are a select few vehicles that this works with, and they are generally named "Honda" or "Toyota".

I'd argue that point. Considering my friend is on his 5th Tahoe in 8 years and $12,000 was worst trade. It's all about demand. Over the last 10 years trucks and big fully loaded SUV's that are a couple of years old with some warranty left are exactly what people want. With gas prices like they are right now I say the tide might be turning.

To say that Honda and Toyota are the few that hold value is completely wrong. The model matters more. It's all about supply and demand. Typically a Corvette will top the list of best resale value.

[dmclone]

I have the bad habit of getting a different (mostly new) car every few years. Here is how it worked for me.

06 VW GTI (for sale at Hummels)---25K sticker/Paid 23K OTD/17K Trade-Lost 6K

04 Honda Element----22K sticker/Paid 21K OTD/18K trade-Lost 3K

03 Nissan 350Z----31K sticker/Paid 29K OTD/22K trade-Lost 9K

00 Honda Civic SI---17K sitcker/Paid 17.5K OTD/trade for 17.5K--Lost nothing


So overall it's a dumb move. I've done a lot better on buying a couple year old vehicles like a Lexus ES300, Acura Intergra, etc. Also keep in mind that in some of these cases they escalated the trade value and didn't come down as much on the new car. I've considered leases but each time I've put pen-to-paper it didn't make sense for me.



Financially I know it's stupid but it's my one vice and I take care of everything else. I received a few big bonuses in my mortgage days so most of these I didn't even have loans on and they all were paid off before I traded/sold them.

[wesley_w]

I have owned only four cars in my life...my first was in 1972 and my last was bought in 1999. I bought the last three new and I like to do that so I can make sure they are maintained properly throughout the life of the vehicle. I've had each of them a minimum of 12 years with the exception of my first which was used to begin with. They all looked new when I traded them also. I drive a Mustang and I plan on a new one in 2010!!

My philosophy on cars is buy a brand new one and make absolutely sure it's fluids are changed regularly and all the other parts are kept properly maintained and it will be a good investment.

[peteypie]

I have two vehicle that are less than two years old, and I did not buy either of them new. My grand prix we bought after one year, and it was half the price of a brand new one with 4 years of warranty left. My Chevy Silverado we just bought before new years, and was not even a year old yet, but we found a great deal and it was about $9,000 cheaper than the same truck that hadn't been driven 18,000 miles worth. I think an almost new vehicle is the way to go because you don't get that initial depreciation hit, and most of the warrenty is still there.

That being said my grandmother buys a new car every two years like clockwork, but shes got the money, and likes the reliability of a new car.

[peteypie]

I would also suggest if you can pull it off to try to sell your car privately. Even if you can only get what the dealer was going to give you, most dealers will knock a good $2000 dollars of the asking price if you tell them you don't have a trade in.