Conso, my informal survey of those who drive a bunch for work and play is that $3 gas is tolerable. I hear conversations about buying heavily discounted SUVs. If you thought gas would stay in the $3s, it probably makes sense. I think we need European gas prices to stunt long term demand. Cars to a certain extent in the US are like houses, they are more than just transportation. There is an emotional aspect to them that is hard to quantify. I have never understood paying more for a product than I need to, only for it to depreciate 50% in three years. You still see ads touting horsepower, seems we would finally be leading with fuel economy. Hare
I have never understood paying more for a product than I need to, only for it to depreciate 50% in three years. >>hare
You've lost 5-10% the minute after you drive a new car off the lot.
Most of the vehicles I've purchased have been late model used vehicles with 25- 50k miles on them. The only exception was my current truck which was an old model in a year Ford changed their pickups and they were literally blowing out the remaining inventory of old model vehicles.
I have a criteria I try to apply to vehicle purchases: Can I expect to get 10,000 miles for every $1000 of purchase price without incurring major engine or powertrain repairs?
For 40 years I've been driving F-150 pickups and I've achieved/exceeded that goal with every one. They all had 200,000 miles on them and were still running well when I got rid of them, selling the last 3 for $1 to a career odd job man who lived nearby and checked on my cabin when I wasn't there. He got another two three years out of each.
I drive a lot fewer miles now and as age is a factor in how quickly the rubber and plastic parts deteriorate keeping that track record is unlikely.