- Joined
- Mar 13, 2005
- Location
- Raleigh, NC
Here's a hypothetical:
Let's say you go out and pick up a low-mileage, used 2014 Suburban for around $30k. The market is chock full of them. I hear you can get them out the door for high 20s.
It's loaded. Bluetooth, DVD player, leather, etc. Gets 21-22mpg highway.
The same vehicle, five years old with 150,000 miles, is going for $25k. Heck, I've seen private party asking price on LTs over $30k.
So you could buy one, put over 100k miles on it, and sell it, for - round numbers - about $6-7k in depreciation.
Could you buy a 12 year old Excursion with 250,000 miles on it, drive it for another 100k, and not spend $6-7k in repairs and depreciation over the next five years? What's a transmission and a full front-end suspension rebuild going to set you back? Probably going to need some turbo work and injectors, too.
Let's say you go out and pick up a low-mileage, used 2014 Suburban for around $30k. The market is chock full of them. I hear you can get them out the door for high 20s.
It's loaded. Bluetooth, DVD player, leather, etc. Gets 21-22mpg highway.
The same vehicle, five years old with 150,000 miles, is going for $25k. Heck, I've seen private party asking price on LTs over $30k.
So you could buy one, put over 100k miles on it, and sell it, for - round numbers - about $6-7k in depreciation.
Could you buy a 12 year old Excursion with 250,000 miles on it, drive it for another 100k, and not spend $6-7k in repairs and depreciation over the next five years? What's a transmission and a full front-end suspension rebuild going to set you back? Probably going to need some turbo work and injectors, too.