Quote:
Originally Posted by jamesqf
Please explain why I would want to buy a cheap new car, when I can buy an inexpensive used car.
To date the Insight is the only car I've paid over $5K for, and I paid well under half the new price for it.
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Depends on where you live and in what time period.
Historically the USA had been full of new car buyers (and leasees) that like always having a new car. So that makes a lot of semi used cars available which because of supply and demand makes them lose value quickly and become cheaper.
But in other countries things are different. In Mexico, for an example, a 5 year old car will still be 90% the value it was when it was new (or so my little amount of investigation has lead me to believe). It seems to be because fewer people buy new cars there leading to fewer used cars.
Then there's the factor of change. Used cars are some 15% more expensive now I'm the USA than they were a year ago. And because of the chip shortage, those prices keep rising. Because with fewer chips there are fewer new cars and therefore fewer used cars and therefore higher prices.