So for example: “buy a one year old used car with under 15,000 miles, and sell before it’s three years old and still under 45,000 miles”, or whatever.
I know this varies from car model to car model, differing resale values, etc, but just as a general rule, do you think there’s an optimal time to own a car? I’m speaking strictly monetary value. Brand new cars I know drop off like crazy the second you drive away from the dealership, so that’s out. But I’m wondering if there’s an age and mileage where the value falls off a cliff most drastically.
Basically the goal is like spend $20K or so on a car, and sell when it’s still worth like $15K (or whatever numbers, you get the idea) so I’m wondering how long that is. I’m thinking this might have to be a yearly flip to maximize value.
Most Helpful Girl
So is there any reason why you can’t keep a car until zero value? Like do you have a newer seeming car for work or something?
If not, I think you are better off buying a used, reliable car with about 25k to 35k miles on it and keeping it until it has little value left and does not cost you money (repairs).
I have had three cars in my life and only one of them new. I have had a car for 25 years of my life, I have spent 40k for my cars and I drove about 15k miles a year.
So unless you need to have a nice car, I would purchase more on reliability and cost than anything else.
Most Helpful Guy
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