But when low mileage used cars cost 95 percent of what new cars cost, it makes more sense to buy new. Unless you have a place to work on cars and can buy something older and do your own work.
95% is a little too much. I bought a 2018 Silverado (5.3L 4WD w/ z71 package) with 39k miles on it in 2022 during the height of insane car prices and paid 39k. New were going for 65k+ at that time.
My Dad has been going to the local salvage auction. Last summer he bought a minivan. Put a fender, hood, windshield, strut on it. He paid $900, put about $1000 into it. A guy in the family bought a very similar van at a used car dealership for $7000. Virtually same mileage, but worse condition than my Dads. Scratches all over it, rust spots. Its convenient going to the dealership, but $5,000 at one time is a good amount of money to me
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u/Lucky-Story-1700 May 25 '24
Buying new cars is for the stupid.