Buy a New Car vs Used Car: 5-Year Cost Breakdown
Buy a New Car vs Used Car: 5-Year Cost Breakdown
Key takeaways
A 3-year-old used car usually wins on five-year total cost because the first owner absorbs the steepest depreciation.
Sticker price and monthly payments mislead; only a line-item comparison of depreciation, financing, insurance, and maintenance settles the question.
Used car loans carry higher rates, but the smaller loan...