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181962
Well, having the use of a vehicle at this price point for 15 months at a cost of $3,000 is a pretty good deal. But you also have to factor in the sales tax and dealer fees. That's money you'd never get back when eventually trading the new one so it should be factored into the cost of ownership of the old one. In NY and IL where I've lived only the $3,000 spread between the trade and the new would be taxed. If that's universal in taxing states, while some have no sales tax at all, it would still look pretty good for a US owner.I would say no, even for $3k. But that's just me.
Generally speaking, I'd agree with you. I buy new (or nearly new in the case of my CX-5 certified service loaner) and hold cars for 10 years or more. 150,000 miles is my limit, not tempting fate. When you get to year four the depreciation curve flattens sharply and the average annual cost of ownership sharply declines. That's assuming you avoid major repairs like a new trans or engine. Even if you have one of those repairs on an older car you'd recoup the money in a year or two relative to the first and second year depreciation on a new one.
That's basic car math. It shouldn't be a revelation to anybody here.