New car!

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Re: New car!

Postby Crackpot » Wed Jun 12, 2019 1:04 am

Gee why didn’t I think of that.
Okay... There's all kinds of things wrong with what you just said.
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Re: New car!

Postby Joe Guy » Wed Jun 12, 2019 1:32 am

I've always been a deep thinker. Innovative ideas like that come to me naturally.
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New Car!

Postby RayThom » Wed Jun 12, 2019 4:35 am

Mileage is everything.

In July 2009 I bought the first and only KIA Forte EX the dealer had for $19,250 (OTD). I have driven it only 70,000 miles in 10 years. If I wanted to sell it today -- with no need for a quick sale -- I'm sure I could get over $7,000 for it. Tires, brakes, oil, inspections, and small odds n' ends, have been my only maintenance expenses.

Knowing how long I keep, and carefully drive my cars, I will not think twice about purchasing another vehicle directly off the showroom floor. My one concern at this point, however, is that I'm the one depreciating the fastest.
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Re: New car!

Postby Long Run » Wed Jun 12, 2019 5:17 pm

MGMcAnick wrote:
Long Run wrote: A reduction in value of $2,000 for a year of driving a nice new car is a good value! That said, I have bought my last couple of cars used at an auction buyer (lease returns mainly of luxury brands) and saved $15,000 off of cars that are a year old.

Please explain your math. You say $2000 a year of depreciation is a good value. Yes it is, but it seems low for most cars. Then you go on to say you buy year old off lease cars for $15000 off of "new". So which is it, $2000 or $15000 in the first year?


It's both. Some cars depreciate very little in the first year or two if the buyer gets a reasonable deal on the new car; Toyotas are a good example. Some cars depreciate a lot -- like luxury brands bought on 1-2 years leases -- so there is a big discount for buying slightly used. The point is that the adage that a car loses X% of value when it is driven off the lot may or may not be true and is not a good rule of thumb. As pointed out by several others, for those who hold a car for a long time, the immediate drive-off depreciation is irrelevant.
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Re: New Car!

Postby MGMcAnick » Sat Jun 15, 2019 8:30 pm

RayThom wrote:If I wanted to sell it today -- with no need for a quick sale -- I'm sure I could get over $7,000 for it.


Since the Forte was introduced in the USA in 2009 as a 2010 model, I'm assuming that's what you have. They are nice cars. If you can get $7000 for it, you must be living right.

Good luck.

NADA shows it at $5875 with those miles, A/C, alloy wheels, and an automatic transmission.
https://www.nadaguides.com/Cars/2010/Ki ... -LX/Values
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New Car!

Postby RayThom » Sun Jun 16, 2019 4:29 am

MGMcAnick wrote:
RayThom wrote:If I wanted to sell it today -- with no need for a quick sale -- I'm sure I could get over $7,000 for it.


Since the Forte was introduced in the USA in 2009 as a 2010 model, I'm assuming that's what you have. They are nice cars. If you can get $7000 for it, you must be living right.

Yes, its a 2010... first model year for the Forte... a black one. (The 10 year D/T warranty expires on 7/31/19.)

I have a request to be contacted by the dealer for a Forte5 -- whenever they come to the US. It looks like a small Stinger.
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