Buying Used Vs New Cars
I think in a year or two it’ll be time to upgrade my ‘99 Accord V6 coupe. I was just looking at new 5-series BMW prices and the cheapest 5 series for the 2006 models is about $43,095 plus tax. OUCH!
Hmmm….whats the pricing on used?? Apparently 50% off! Here’s a 2001 model for only $16,995!. So its 2000 miles away. But for a $26,000 saving, I can afford to fly out there first class and drive it back!
And while I’m there, I can use the $26k as downpayments for 2 more houses in Indiana!!! Last year I bought 2 houses there for around $85k each from the bank as REOS. The insurance replacement value came back as $135k each. That doesn’t mean they’ll sell for that much, but atleast I didn’t overpay for them!
I got a 30 year fixed on one and a 10 yr fixed on the other. Total downpayment was around $20k-$25k between the two. And they cashflow a little bit too.
I’d rather buy 2 more houses than buy a new or used car.
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August 24th, 2006 at 4:47 am
Hey, how are those houses in Indiana working out for you? Did you ever frind a property manager?
ed.
August 24th, 2006 at 8:07 am
You sure there isn’t a decent priced used BMW in San Diego?
Maybe some condo flipper needs to dump his car 
Does sound like a good price.
So do you have real estate in Utah and Indiana. A post about what you now have and what your plan is vis a vis what you think about the future markets in those areas would be interesting.
August 24th, 2006 at 1:24 pm
the houses in indiana are “performing” well in terms of occupancy and they’re appreciating a bit too.
Moom, san diego probably will have higher pricing for BMW’s since there are more people that can afford them!
great idea about the post. i’ll try to fulfill your “demands”
August 28th, 2006 at 8:05 pm
hey there, I blogged about cars as well the other day; I lurv the BMW but dang even used they are expensive (especially the maintenance!). Your car doesn’t sound that old to me, but then again I drive a 92 Acura Integra!
August 29th, 2006 at 6:23 pm
well it might be a few more years before I actually change my car. My wife’s car needs to be replaced in the next 12 months or so.