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Car upgrades -
May 05, 2005 Posted: May 05, 2005
Yay! We are all set to replace the wifey's automobile this weekend with something new (to us, that is). This is it, the implementation of all of the stuff I've been telling myself we have to do, which is: stop trying to buy "brand new" cars and wasting money on depreciation. It's really easy to get tempted to look at new cars but there are lots of good 2 or 3 year old used cars on the market and, by golly, we are getting one. Net result? Less money spent on "depreciation". Less money spent on interest from car loans. Lower monthly payment. More chance of paying off the car well before its useful life is over. Less chance of spending the rest of your life paying off loan after loan (read: the modern day indentured servitude). |
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Good thinking...wish it applied to Acura TLs. Fo'reals. 2004 models with 10-15k miles and Nav system, about $33,000. 2005 brand new models, about $35,500. Depreciation? Yeah, but very very little. Your depreciation theory is great (I've bought that way before), but it works a LOT better on American brands, and on the "non-premium" brands, like Honda, Mazda, Nissan, etc. Doesn't work as well with Acura, BMW, Infiniti, etc. I'm sure the TLs will have a lot more depreciation after three years, but I'm not keen on buying a 45,000 mile care. Posted by: mondogarage at May 5, 2005 04:58 PM Well, for someone who is trying to minimize money spent on depreciation and interest, buying a near-luxury vehicle doesn't make a whole lot of sense, now does it? Part of the whole spirit of this excersize is essentially saying to yourself (and to the world, in part), "I am not my car. I don't need to prove anything by what car I drive." That, to me, is freedom. I can't get to work any easier whether I drive a TL or an Accord. More to the point -- Lying on your deathbed, you're not going to be lamenting that you didn't get that Acura TL - unless you're an exceptionally shallow person. I have come across a title I have been meaning to read that analyzes "our society's ever-accelerating spiral of conspicuous consumption". It's called "Luxury Fever: Why Money Fails to Satisfy in an Era of Excess".
As for how it works with the non-high-end brands... Consider that a 2002 Honda Accord EX costs you 16-17K vs. 23K for a new one. What a bargain! :) -F
Posted by: Franco |
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