Then your deal hunting skill sucks lol. Last year I bot a Jetta 2010 with 150k miles for $3600. Yes I am your millionaire next door.
And by the way. Forget jap cars. They have no soul lol.
With car sales around 17 million a year and probably about 1/3 of people knowing the financial loss of a new car once its driven off the lot, you would think that maybe people would consider a used car, but that's not the case. I think it's about reliability and the fact that no matter what driving is very expensive whether it's a new car or a used car. Average cost of driving a car is about $500-$700 a month.
I have a truck made in 1987. I've put around $7k of work in it over 5 years and outside of regular maintenance I've never had a problem. Part availability is great, and the model is coming back so I expect to be able to flip it for more than it's worth in 2-3 years if I want to. I expect to turn the odo over at 1 million miles as long as I maintain it. It might not be the prettiest car (it's not a rust bucket, and it's actually nice looking but dated) but I don't really care. I save so much money driving it, I'll be the last one laughing from my paid off house and all of my free capital to invest. If there's one thing a modern car (2010 onward) screams, it isn't "reliability".
You bought a Jetta. I can lease a brand new jetta for about $175 a month.
And you bought a 2010 jetta with 150,000 miles on it which VW is known for many many electrical problems on their cars.
That car was driven way over the average amount of yearly miles a regular person drives.
In 1 year I put 10k on the car. Gas insurance repairs inspection all in? $2500.
Used car is sure cheaper.
Some people get lucky with certain cars and drive them for tens of thousands of miles before they have any problems but how many people actually maintain their vehicles.
Very amusing and probably not even possible, I mean even if you are making $237,000 a year at best you would be driving a hyandai sonota.
I mean everyone likes to save a little for a rainy day but damn, spending 1/10th your salary on a car?? So I can be in the repair shop a couple of times a year. This guy has no clue what hes talking about, and let me guess we should be spending 3/16 of our salary on rent? And 1/64th on food?
https://www.cnbc.com/2019/11/04/fol...o-get-rich-says-millionaire-money-expert.html
Valid point. If you are not handy at all then should not touch high mile cars.
My car cost me approximately $485 a month
Gas
Insurance
Monthly car payment.
And it's a 2018 "Japanese car" with all the bells and whistles
I would disagree only because of the availability of mechanics. Most shops (I've done this with a bunch of chain autoshops here) will happily give you a 30 point inspection for a modest fee. If the seller disagrees to this as a condition to purchase run, don't walk, away from the guy. They're trying a fast flip on craigslist or something.
The trick is to know what you're getting into. Craigslist cars are almost always bad news. It would be prudent for a non-greasemonkey to go to one of these shops to be certain. Most cars made before all the new Obama era vehicle rules are generally extremely reliable when taken care of. You can turn over the odo many times on a 1997 honda civic for example if you get it in good enough shape (good luck).
I actually dread the day I upgrade to something with an engine management system in it. Aside from suspension and transmission work I generally do my own maintenance. On these new cars, everything is a hassle designed to pull every dollar out of your pocket.