More on new car buying

I reran the numbers on Buying a new car is a poor financial decision assuming 250,000 usable miles. The numbers more dramatically favor used cars:

Year Current Miles Value (NADA) Depreciation from new Percent of miles “used up” Relative cost per mile of remaining miles

(250000 – current miles)

2004 0 (still on dealer’s lot) $23,850 0% 0% 43% higher than 2000
2003 15000 $20,300 15% 6% 30% higher than 2000
2002 30000 $16,925 29% 12% 15% higher than 2000
2001 45000 $14,875 38% 18% 9% higher than 2000
2000 60000 $12,650 47% 24% baseline

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