Originally Posted by GermanStar
Stop buying new cars, and you won't take such a hit. Look for exotic low-mileage 2-3 yo cars instead -- you know -- the kind you keep selling.
Yea well I was spoiling myself with great driving new benz's (addictive to the latest technology which is superior in ride, drive, and perfromance no matter how you slice it). But I own a bunch of old relics that I like for one reason or the other, so you don't have to tell me about good old ones that justly retain value, as right now I have in three different garages...
'60 cadillac conv., #+2
'62 vette, #2
'78 Fleetwood, 49k
'85 eldorado conv. commemorative edition, 22k
'89 F150 xlt lariat, 39k
'93 Mustang GT conv., 36k
Obviously the two newish cadillacs are daily drivers for the two cities I have homes in and depreciation is a sad given, although offset somewhat by HUGE discounts when purchased new, that mercedes will not do. The truck is used by my office. All the other cars are very low mileage, all original, at least #2 condition cars that are fair investments that I will not lose money on, or at least break even in a worst case scenario. I drive them very, very, little and do most of my own maintenence, as well as keep them properly stored. There are infinite better investments but cars are a hobby of mine, so I justify these to myself.
You are correct regarding daily drivers, as there is a world full of good cars for less than $15k that I would be proud to own and drive daily if I didn't mind watching the car get used up. Funny I do not mind using up a new car but watching a nicely preserved older one get daily ground up is too upsetting for me. I think from here on out I will buy even my daily drivers as older and used. Ya know a P71 Crown Vic with low miles and cop attire is pretty decent driving, dependable, and everyone is scared to death of you. Hmmmmm.......