Re: Buying a Used car with cash
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NEW cars depreciate 20-40% the minute you drive them off the lot and therefore buying new is one of the worst financial decisions anyone can make in their lifetimes.
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I disagree with this. I would instead say that any car you buy, new or used, the dealer will only offer you 60-80% of what you just paid for it.
You still will be able to sell a new car to a 3rd party for extremely close to your purchase price, unless you way overpaid.
However, new cars do depreciate more over thier first 2-3 years than at any other time in their life cycle (obviously).
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