I LOVE depreciation. I got a 4-year-old $38,000 car for $8800 (its value is still $13,000).

I lucked out though – as far as price anyway. I could throw in a couple grand of repairs or mods and I'd be into the car for it'* real value. Hopefully I won't have major issues with the car though.

My parents got their Anniversary Vette brand new 5 years ago. But Vettes are totally different when it comes to depreciation, especially the 50th Anniversary. They just paid it off, but are of course keeping it forever.

I'll add my opinion.

The only time I would buy a brand new car would be when the car is likely to be abused (think SRT8, SS, high performance cars) and cars that require specific gas (like the SSEi, some people don't even put in premium)

otherwise, it'* used for me!

Ya, used all the way for me too. I don't think I'll ever buy brand new for the reasons stated above. I would especially never buy a new car that'* also common around the fleet world (ie. rental cars). It severely affects the brand image and resale value.

Chrysler Sebring for example.

Both my SSEi'* were fleet cars before they were bought from the people I picked them up from. Mostly exec cars.

Yep I took a huge hit with the 05 Bonneville GXP I bought so I am never buying a new GM again.

Financially yes, if you're selling it before say 8 or 10 years, it'* hard to justify a new car.

Depreciation is a bitch, but anyone buying a normal car, DD, etc from a mainstream company shouldn't focus on it too much. Cars are not investments unless you're talking rare ones for different reasons.

Yup!

It'* mostly all been said already, but having purchased two new cars in my life and a number of used ones, I can say from personal experience that my best cars have been the three I bought at one year old, off lease. In each case I saved at least $7000 off new price and each of them went on to give me 10+ years of service.

Your best bet really is to keep this one for 8-10 years now, Brad. Save the modding for well after it'* all paid for. My opinion...of course.

I can't count the number of times my dad would comment that the 92 SSEi he bought from his company (they had it as a fleet car for the higher-ups) in 2000 ran, drove, and performed better than any brand new car he'* ever had.

On another note, isn't it sad that when you drive a brand new car out of the dealership parking lot, it automatically depreciates by about $2000 right off the bat?

I'm a used car man myself. I'm just glad I realized that it may work like that for cars, but not women...

jk ya'll

Ideally, I'd get a used car for my commuter, and a new car for my fun-vehicle. I would intend to keep the one I buy new until it breaks down.

For example, my parents bought an Audi new. Even now, in the perfect condition and moderate miles it has, it'* worth about half what they paid for it (only 3 years later). It doesn't bug them because they intend to keep it (although it will suck if it gets totaled...)