Almond
M123
Fact: In today's car market, car out of the dealer's lot do not lose value. Look above and see why I stated “It barely loses anything, and without actual usage car value does not drop”. I cannot believe how people in accounting forum can be so financially ignorant. Anyone who bought the new car or new car with very few mileage will agree that price paid will not be far off if it was to be purchased at the dealer.
Let's see top selling cars in the U.S.: Ford F-150, Toyota Camry, Honda Civic.
For price comparison, will use truecar to see how much people have paid for new car, and KBB to estimate the sale price for private party (lowest) using the zipcode in MD. Note that since this is “average paid”, many people bought it less than figure below, resulting in zero price change.
Ford F-150 Supercab
New: $36415 MSRP, $31,160 average paid
Used: $30,401 sale to private party @ 50 miles
Change: -$759, -2.43%
Toyota Camry Base LE
New: $24,240 MSRP, $19,627 average paid
Used: $18,243 sale to private party @ 50 miles
Change: -$1384, -7%
Honda Civic, Base LX
New: $20,415 MSRP, $17,914 average paid
Used: $17,308 sale to private party @ 50 miles
Change: -$606, -3.4%
Unless you are buying a high-end luxury car, your car does not drop in value once you leave the parking lot. Most mainstream cars have very low depreciation with strong used car market, also factoring with new car incentive & low interest rate, it makes buying a new car not a bad financial decision as long as you will keep the car for good amount of time.
FAR - 83 (1/7/16)
BEC - 87 (4/18/16)
AUD - 92 (7/2/16)
REG - 83 (12/5/16)
Ethics - 100%!
Licensed CPA in state of Maryland Feb 2017
Materials: Wiley book + Ninja MCQ
FAR - 83 (Jan 2016)
Study time: 6 weeks
BEC - 87 (April 2016)
Study time: 2 weeks
AUD - 92 (July 2016), (74 Feb 2016), (72 May 2016)
Study time: 4 (Feb) + 2 (May) + 3 (July) = 9 weeks total
REG - (70 April 2016)
Study time: 3 weeks