A Boring Dystopia

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Who needs retirement when you can buy an asset that loses value over time? (lemmy.world)

submitted 3 weeks ago by dohpaz42@lemmy.world to c/aboringdystopia@lemmy.world

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[–] MutilationWave@lemmy.dbzer0.com 2 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

So I bought a Challenger R/T with 14k miles on it five years ago. Just that bit of driving in less than a year brought the price down $10k from new. I have put almost 70k miles on it, and it's now worth $4k more than I paid for it.

For real, if you can get an old Ford truck from the nineties in good condition with low mileage it is probably a better investment than a 4% 401k match. My next door neighbor picked up a decent 90s Toyota truck that had been sitting in a barn for $1000. He is a mechanic so there's that, but I thought he made an excellent purchase. So what if it's missing some clear coat and has rust spots in non-critical locations on the body?

Do not buy a new car, ever! Currently having this argument with my wife.

[–] Ilovethebomb@lemm.ee 2 points 3 weeks ago (1 children)

The main value of a new vehicle is your time and peace of mind.

If you walk into a dealership and buy a brand new vehicle, with a five year warranty and a service plan, you have a very good idea what the next five years of driving will cost you, and you can be as certain as possible that the vehicle will be reliable.

Bangernomics makes sense until you factor in your time.

[–] MutilationWave@lemmy.dbzer0.com 2 points 3 weeks ago (1 children)

I'm talking something one year used with 10k miles on it will save you $10k+.

[–] Ilovethebomb@lemm.ee 1 points 3 weeks ago (1 children)

That's pretty expensive for the person who sold it to you, and in terms of peace of mind is the next best thing to buying a new one.

[–] MutilationWave@lemmy.dbzer0.com 1 points 3 weeks ago (1 children)

Hopefully anyone buying a new car understands that the second you drive it away it's losing 20% or more of its value.

[–] Ilovethebomb@lemm.ee -1 points 3 weeks ago

Which is why you'd ideally keep it for a good few years.