- Joined
- Jul 14, 2020
- Threads
- 125
- Messages
- 6,164
- Reaction score
- 7,042
- Location
- California
- Vehicle(s)
- Jeep Wrangler JKUR
- Your Bronco Model
- Wildtrak
Yeah there is no way that buying/leasing a NEW vehicle will ever come out better than repairing an old one. Even if you had to put an entire new engine in for $10k, you would lose more in depreciation/fees/taxes/dmv reg on a new car.
Think about this. Let's say you sell the Jeep as is, and without spending a single extra dollar, we're able to go out and buy a decent USED car. Then in a year's time, If you were to resell that car, would you take more or less than a $5,000 hit?
If you only paid $5k for the used car in the first place, you're guaranteed to come out ahead because the car would always be worth more than $0.
Average depreciation is about 15% per year for a USED car. So some quick math, suggest that you could spend up to about 30k for a USED car before you would exceed $5k in depreciation.
Of course this is based off the assumption that you will get your Bronco within the next 12 months..
Think about this. Let's say you sell the Jeep as is, and without spending a single extra dollar, we're able to go out and buy a decent USED car. Then in a year's time, If you were to resell that car, would you take more or less than a $5,000 hit?
If you only paid $5k for the used car in the first place, you're guaranteed to come out ahead because the car would always be worth more than $0.
Average depreciation is about 15% per year for a USED car. So some quick math, suggest that you could spend up to about 30k for a USED car before you would exceed $5k in depreciation.
Of course this is based off the assumption that you will get your Bronco within the next 12 months..
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