[sspade]

Originally Posted by P1et

Back in 2005, I bought a new 2004 Dodge Ram 2500 Sport w/ the Cummins engine. I bought it for $10K below sticker, at $34K. I drove it for nearly 10 years, and put over 100K miles on it. The day I put it up for sale, a gentleman from Indiana expressed interest in and promptly made the long trek to Texas to collect her. He paid nearly $23,000 for it.

Another sad fact: my mother in law has a 2015 Tahoe LT. My wife has a 2015 X5 with a sticker of just shy of $80K. Although the X5 is quite a bit more expensive than the (quite basic) Tahoe LT, any guesses on which one is worth more today? Sorry, no prizes!

I love the new body Tahoe/Yukon.

Want one.

Would you recommend to others?

[JasonCSU]

Originally Posted by P1et

Back in 2005, I bought a new 2004 Dodge Ram 2500 Sport w/ the Cummins engine. I bought it for $10K below sticker, at $34K. I drove it for nearly 10 years, and put over 100K miles on it. The day I put it up for sale, a gentleman from Indiana expressed interest in and promptly made the long trek to Texas to collect her. He paid nearly $23,000 for it.

Another sad fact: my mother in law has a 2015 Tahoe LT. My wife has a 2015 X5 with a sticker of just shy of $80K. Although the X5 is quite a bit more expensive than the (quite basic) Tahoe LT, any guesses on which one is worth more today? Sorry, no prizes!

Those Cummins equipped Rams do hold their value well. Sounds like you got a hell of a deal when you bought it.

[P1]

Originally Posted by sspade

I love the new body Tahoe/Yukon.

Want one.

Would you recommend to others?

I personally think the Chevy Tahoe is a fine vehicle. My mother in law has two, and they have both been trouble free. One has over 100K miles, the 2015 barely 15K. Naturally, they will never drive like the smaller X5, but I am not expecting that either. What I can't recommend is spending 2x on an Escalade. I honestly, apart from them being visually different from the outside, figure out where the money differential comes from. I drove around in the Platinum edition this weekend, which is close to $100K.

That being said, have you seen the Tahoe RST? Definitely a great looking SUV, that comes equipped with the larger V8, Brembo brakes and Borla exhaust. I've seen a few on the road already. Would love to pick up a used one...

[P1]

Originally Posted by JasonCSU

Those Cummins equipped Rams do hold their value well. Sounds like you got a hell of a deal when you bought it.

It was a leftover 2004 when the 2005s were hitting the lots. I haven't owned an American car since, but it was *very* easy for them to come $10K+ off the original sticker price.

[TXSTYLE]

Originally Posted by sspade

Crazy to think your brand new car will be worth ~50% less after three years of ownership...

https://www3.forbes.com/business/11-...old-used-cars/

I have purchase my last 3 cars a few years old and saved tons of cash! I drive maybe 4-5k miles a year so generally I can sale them and do just fine. We lease all my wifes cars for her and our kids.
If your "thing" is nice luxury cars, particularly German, this is the only way to go. Next up for me, a late model AMG S63 Designo coming soon...

[Germanauto]

I got my Lexus is 3 yrs ago for $27K. It was a 2 yr old car with 20,000 miles. New it probably stickered around $45K. People kept telling me to get something lame and "practical" like a Honda CRV or Toyota Rav4. Instead I got this babe ass for the same price. Do those ugly CUVs have sexy looks, tight steering, a sporty chassis, and a wood and leather laded cabin? I don't think so.

It's a 5 yr old car now and people still think it's new, especially with how well I take care of it. No ragrets...

In a few yrs I'd like to look at a CPO Boxster or Jag F-type. These babies go for under $50K with low mileage in Red. They are even cheaper if you compromise on color, which I am unwilling to do lol.

[Germanauto]

Originally Posted by Humdizzle

As I've said before. Buying new is one of the dumbest things you can do. 2018 3 series looks and drives almost the same as a 2013 3 series that costs 50% less. Buy a clean one and take care of it and you won't have any major catastrophes.

Bmws Mercedes Audi's all follow the same depreciation curve. Majority are leases that are turned in at the 3 year mark when the LCI model arrives. Dealers get overstocked and value drops.

People commonly justify going for the new car due to the warranty. C'mon dummy, is it really worth spending an extra $25K on the new car to save a few grand on maintenance?

[Never_Enough]

Originally Posted by TXSTYLE

I have purchase my last 3 cars a few years old and saved tons of cash! I drive maybe 4-5k miles a year so generally I can sale them and do just fine. We lease all my wifes cars for her and our kids.
If your "thing" is nice luxury cars, particularly German, this is the only way to go. Next up for me, a late model AMG S63 Designo coming soon...

Unless it is an M car these days. They lease like shit it seems. $800 to over $1k a mo for M3/M4 is what I have been quoted. Hard pass.

[Never_Enough]

Originally Posted by Germanauto

People commonly justify going for the new car due to the warranty. C'mon dummy, is it really worth spending an extra $25K on the new car to save a few grand on maintenance?

Some people also do not want to wrench on shit. If you can afford it, it's worth it.

[Germanauto]

Originally Posted by Never_Enough

Some people also do not want to wrench on shit. If you can afford it, it's worth it.

Pretty much.

But personally, for me about it's not a question of being able to "afford" it or not, it's about being smart with money. The mentality of "I can afford it so let it be" just does not fly with me.

[Alfisti]

Again women are an issue here. Mine was all in on a $835 X3 lease which i kaiboshed, but she freaks at a $600 annual service.

[Never_Enough]

Originally Posted by Germanauto

Pretty much.

But personally, for me about it's not a question of being able to "afford" it or not, it's about being smart with money. The mentality of "I can afford it so let it be" just does not fly with me.

I get what you're saying. I always buy used b/c let someone else take the hit. I am not trying to impress anyone. So if I get new, it's a lease w/0 down.

[Never_Enough]

Originally Posted by Alfisti

Again women are an issue here. Mine was all in on a $835 X3 lease which i kaiboshed, but she freaks at a $600 annual service.

You need a new woman or you need a secret bank account.

[Red Bread]

Originally Posted by Never_Enough

You need a new woman or you need a secret bank account.

Why not both?

[Humdizzle]

Originally Posted by Germanauto

Pretty much.

But personally, for me about it's not a question of being able to "afford" it or not, it's about being smart with money. The mentality of "I can afford it so let it be" just does not fly with me.

I think this is where alot of people fall into the trap. Its alot easier to give loans out for new cars than it is used cars. and most people just look at what they can 'afford' rather than what is going to net the most money and least deprecation over the coming years. many people dont have a spare or extra car either, so they have to swap one car for another quickly. dealer is in the power position and they give you pennies for the trade in.

person A buys a used 335i thats 4 years old with $26k cash. he isn't worried about warranty because he has the money to pay for anything should it go wrong. There's less than a 1% chance a catastrophic drivetrain failure could happen and he's willing to take that risk.

person B does not have a large amount of liquid cash and so cannot make a large down payment or cover the cost of a big repair on a car. a $10k engine failure would mean he would have to sell off assets or take another loan/credit. still, he makes good monthly income. he opts for a new 2018 340i lease. he gets it for 600 a month zero down lets say. he's happy because his warranty is covered and he can afford the payments.

they both sell in 3 years. person A is coming out way ahead a vast majority of the time. rich keep getting richer.

[Germanauto]

Originally Posted by TXSTYLE

I have purchase my last 3 cars a few years old and saved tons of cash! I drive maybe 4-5k miles a year so generally I can sale them and do just fine. We lease all my wifes cars for her and our kids.
If your "thing" is nice luxury cars, particularly German, this is the only way to go. Next up for me, a late model AMG S63 Designo coming soon...

One of my buddies loves old Mercs and understands the market for them well. He's on his third 450SL and actually made a profit on his first two.

The secret? These old Merc SLs bottom out in value at a certain point. Buy from some old guy who just wants to get rid of it, put a few grand into it, enjoy the thing for however long, then put it on Hemmings and play hard ball until you get a reasonable offer.

Now if you are an enthusiast for say an old S-class or E36 BMW, you are going to have a bad time. Those things depreciate all the way to 1 cent.

[dgoldenz]

Got my 2012 Cayenne Turbo with $154k sticker and 58k miles on it for $47k. Previous owner also put on $8k Akrapovic exhaust, $3k tune, and $3k laser jammer/radar detector on. Now that's some depreciation!

[TXSTYLE]

Originally Posted by dgoldenz

Got my 2012 Cayenne Turbo with $154k sticker and 58k miles on it for $47k. Previous owner also put on $8k Akrapovic exhaust, $3k tune, and $3k laser jammer/radar detector on. Now that's some depreciation!

No THAT is buying smart my friend! My neighbor grabbed a 2yr old Cayenne GTS loaded down for low 50's. It too was a $100k+ car.

[boca1]

buying used is always better financially, I own a low millage infiniti as a daily and have 2 other "classic" cars for fun, the cost to insure the Z4 and SLK combined is less than 1/2 what it cost to insure the infiniti

[Bingobimmer]

Unless you have always dreamed of a new car buying used is the way to go. Once you set a budget you will be amazed at the difference between what you can afford new vs. a 2-3 year old car.

[Germanauto]

Originally Posted by Alfisti

Again women are an issue here. Mine was all in on a $835 X3 lease which i kaiboshed, but she freaks at a $600 annual service.

Lol my mom is the same. My dad has always been OK with getting a CPO car but she refused to even sit in a used car. They've spent a ton of money of new BMWs over the years that didn't even have very exclusive colors/options that would warrant being picky and buying new.

[grl.racr]

Originally Posted by Germanauto

People commonly justify going for the new car due to the warranty. C'mon dummy, is it really worth spending an extra $25K on the new car to save a few grand on maintenance?

I easily spent over $15k in maintenance on my e92 335 over the 3 years I owned it. I’ll take the new car all day long.