4x4ord wrote:
I just did some quick math and figured if I were willing to drive a 15 year old depreciated out truck and trade it for another 15 year old depreciated out old truck every few years and if I invest the money I save wisely I might be able to accumulate another $500,000 by the time I drop dead in 30 years. I think I'm going to trade my 2017 in on a new 2020 sometime over the next year..... probably get a diesel.
Bingo! ^
That's how I helped jump start my finances as a kid, and still do better than alot of folks extracting the most out of the value of a vehicle. But now having less time to tinker and more $ available, combined with the reasons below, it doesn't happen much anymore.
It's much harder to do now, as the right vehicles used to command the right price and private party sale meant cheaper price, moreso than now. The internet has ruined the casual car flipper business, as around Seattle anyway, there are hundreds of (typically eastern European and Russian) car salesmen posing as private party sellers and thanks to the internet, even the most uninformed person can figure out what the "top value" is for their pos whatevermobile.