Quote:
Originally Posted by cdcox
Where can I buy a 4 year old car in good condition for 30% of it's original sticker? Or maybe Dave Ramsey is full of shit.
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You probably can't... Especially when you see cars with 200k on Craigslist for over half of their original cost.
You can think of it like this though
New 30k CAR
Payments 400 per
Insurance Bump say 50-100 per month more
Depreciation - at least 100 bucks a week for the first 4 years
That new car cost is around 900 bucks a month not including maintenance
Only way to determine the actual depreciation is by how long you drive it after the payment book is empty. Trade it before it's paid off at fair market value and you just took a high hard one in