J_82
Full Access Members
I agree with you on the savy consumer part.
Sorry type-o.
Sorry type-o.
My Salesman Called today...
- Thread starter ExpeditionAndy
- Start date
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OP
OP
The reality is depreciation is only important if you plan to traded it in, in a couple of years. If you are going to keep it until the wheels fall off, then it really doesn't matter. If you have the excess cash and you want to buy new, then buy new. If you don't have the cash to do it, then don't buy new. Don't buy new if you have to take out a loan because you are upside down the moment you make the first payment or drive off the lot whichever comes first.
Ultimately it depends on the buyer.
J_82
Full Access Members
Depreciation is important to those who are smart with their money. Who likes to see their hard earn money go down the drain tomorrow or in 4 or 5 years?
I preferred to be frugal (not cheap) with my purchases over the years & retire early. When buying an $88,000 vehicle in my area ... that there is over $7K just in sales tax - gone forever. I could never bring myself to do that since I equated that with a certain amount of days at work. So my entire working life I saved a few bucks here and there and it added up to early retirement. Just me, everybody is different. My 2014 Expy EL has been (and still is)sweet and I keep it perfectly maintained. Cost $35K 2 years ago @ 34K miles now Blue Books $25K @ 65K miles. Its going to get me anywhere I want to go in almost the same comfort & safety as a brandy new Navigator. I spend less money than I might, but do anything I want in style. Like I said just me, not you.
I've been tracking my financial situation (i.e. Net Worth) for many many years. When I buy a vehicle from a dealer ... I immediately value it for what I paid minus sales tax & a "dealer purchase premium cost". Then every year after that I calculate the value to be 89% of the previous year. Its roughly right. Kinda funny also that as a vehicle ages, the rate of loss in value decreases BUT maintenance costs increase. So it can cost as much to own an older car as it can a newer one. Ain't fair!
I've been tracking my financial situation (i.e. Net Worth) for many many years. When I buy a vehicle from a dealer ... I immediately value it for what I paid minus sales tax & a "dealer purchase premium cost". Then every year after that I calculate the value to be 89% of the previous year. Its roughly right. Kinda funny also that as a vehicle ages, the rate of loss in value decreases BUT maintenance costs increase. So it can cost as much to own an older car as it can a newer one. Ain't fair!
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Agreed, and it’s not even 5 years, it’s two!!! Look at a 2015 GMC Yukon or Expedition and you’ll find they are around $30,000 less than when they are new, kind of a joke. Spending 80k whether it’s for two years or for ten years is still grossly overpaying for a vehicle and losing that money. Technically for one to buy a Navigator they should be grossing at least $260,000 per year by rule of thumb. Lots of people overbuying in the market. SUVs are getting too pricey for average buyers who need them. Most people don’t gross over $200,000 per year as the automakers think we all do.
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Garrett
Full Access Members
Maybe it depends on the market, but here in KC a used Tahoe/Yukon Denali 1-2 years old is only about 10-12K less than a brand new 18 model...
30 grand less for a 15 Yukon? Where?!
You'll be lucky to get 15-20 grand off on a 15 Yukon Denali(3-4 years old) here in Dallas and that's with at least 30k+ miles and most of them are out of factory warranty. Might as well buy new if you are you gonna pay that much and get a full warranty. But that's just me...
You'll be lucky to get 15-20 grand off on a 15 Yukon Denali(3-4 years old) here in Dallas and that's with at least 30k+ miles and most of them are out of factory warranty. Might as well buy new if you are you gonna pay that much and get a full warranty. But that's just me...
These were all over $70,000 just two to three years ago. If I buy one of these I’m certainly not paying $80,000, I’ll pay $40,000-50 and leave with a vehicle that’s barely broken in. After negotiations I could get any of these down to 40 grand even while you pay 80 grand even for a new platinum or Navi with a “warranty” that the gmc still has.
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Just got an email from Best Car Buying Deals and at the top of the "Best End of Year Car Deals" is the 2017 Expedition with a discount of $13800. I don't see anything on the Navigator so they must be selling without discounting. http://www.realcartips.com/news/0772-end-of-year-deals.shtml
My local Lincoln salesman told me when we ordered our car that if we breathed on the 2017 Navigator we’d end up with it. I told him to not repeat that in front of my wife, he obliged. I’ve seen several ‘17’s with dealer plates that just sold in the last couple weeks. I don’t know what discounts they are getting but in my area they have been moving them from what I’ve seen on the road and in the dealer inventory search on the Lincoln website.
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