Sure. But for self-financing what you can see right away is that a used vehicle in good condition, with under 75k miles, will (depends on the make/model) usually be less than 40% of it’s original purchase price. With typical service lifespans of ~250k miles (average car is 12 years old, meaning that vehicles are on average crushed at 24 years, and is driven 13.5k a year) it means you are typically getting a vehicle with just 30% of it’s life used up but for ~60% less money.
And yeah, you can plunk down less than 10k—I suggest https://www.cargurus.com/, it’s what I used—and get something that will work.
No, I agree! We shouldn’t get a new car.
(I wasn’t properly accounting for interest or depreciation; self-financing makes them less obvious)
Sure. But for self-financing what you can see right away is that a used vehicle in good condition, with under 75k miles, will (depends on the make/model) usually be less than 40% of it’s original purchase price. With typical service lifespans of ~250k miles (average car is 12 years old, meaning that vehicles are on average crushed at 24 years, and is driven 13.5k a year) it means you are typically getting a vehicle with just 30% of it’s life used up but for ~60% less money.
And yeah, you can plunk down less than 10k—I suggest https://www.cargurus.com/, it’s what I used—and get something that will work.