I’ve been trying to find a reasonable deal on a car for nearly 2 months now. I’ve been told to never buy a new car because of the depreciation, but this used car market is completely absurd and prices don’t seem to be trending downwards AT ALL.
Here’s what I’m looking at:
2017 Hyundai Elantra SE. 32k miles at carmax: $16,999 (maybe slightly over priced compared to other used car lots but not by very much)
Brand new 2021 Hyundai Elantra with 0 miles at a local dealer: $20,500
So for $3,500 I can get a brand new car instead of a used one with a bunch of miles on it. $3,500 is a lot of money, but that’s also a lot of wear and tear that’s already been put on that car.
edit:
The new dealer has a CPO 2018 Elantra with only 15k miles for 16k. That seems a lot better of a deal than what carmax is offering but still only 5k off a brand new one.
submitted by /u/Basic_Butterscotch
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Am I crazy or is it totally not worth buying a used car in this market? published first on https://insurancecartoronto.weebly.com/
Frank Radtkee 