All Forum Posts by: Jack Dinkins

I'd buy a car that is a few years old (eg 2 years) from a brand that is known to last a long time. My car is a Toyota and it was an ex lease (30K km and a year old) when I got it in 2005.

Thank you for your reply! My thinking was if you own the vehicle for its lifetime wouldn’t the depreciation and maintenance equal out to owning a used car until it was out of use.

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Quote from @Lorenzo Prieto:

Welcome to Bigger Pockets Jack!

I wouldn't say it's that simple. Personally if it was me I'd rather purchase a used vehicle simply because of how quickly they depreciate. I would rather let someone else take that depreciation hit and then purchase the vehicle at a lower cost. Also, I think it's important to look into the reputation of the vehicle that you are looking to purchase - ask yourself do they have a reputation for being reliable? I could be bias (I drive a Toyota) but I hear Toyotas are a super reliable car lol.

Anyhow, give this video a watch - He gives a great break down.

Thank you so much for your response. I have watched the video and see where he is coming from. My thought while watching it was, what if you don’t sell the vehicle. With my line of thinking wouldn’t it average out to about the same cost over time while you own the vehicle. I’m looking at a Nissan and I think they are reliable. Thanks again for your help.

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So this is my first post so sorry if I mess anything up. I was told recently that buying a new vehicle and owning it for the life of the vehicle is cheaper than buying used and owning for the rest of the vehicles life. I have been unable to find any research into the topic and was wondering if anyone has asked this question before or has research they can share. Any and all help would be much appreciated, thanks.

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All Forum Posts by: Jack Dinkins

Jack Dinkins has started 1 posts and replied 3 times.

Post: Is it cheaper to buy new?

Post: Is it cheaper to buy new?

Post: Is it cheaper to buy new?