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by q084yn39cptyth 2243 days ago
I'll say for a long time I was the same way, until I bought a Prius.

A little while after I bought it, prices actually went up over what I purchased it for, and I was getting letters from Toyota dealerships offering to buy it back from me above my cost.

It's declined in value since then, but still runs well (knock on wood).

This isn't saying used cars aren't worth it -- they definitely are -- but for certain scenarios I think the choice is maybe more complicated than I thought for a long time.

1 comments

Well, in 2009 my Dad's also had the same experience with the dealer who wanted to give him $5k more than he paid for his year old Silverado - I think it was due to the overall market undergoing massive inflation (not reported as "core inflation") due to QE and other stimulus efforts.

I doubt the same would happen now with an economy halted.