Saturday, December 27, 2008

You should buy a used luxury car.

If you want one, that is. Have you seen the depreciation hitting used cars (especially luxury cars)? It is unreal. I thought SUVs were bad, but you can get a four-year-old Mercedes S class 600 for $30,000! That is a $150,000 car...and the depreciation is just as bad in Europe and for any other luxury brand.

Pretty amazing to think that for the price of my Prius I could drive a $150,000 Mercedes. Granted the Prius is brand new and the Mercedes will have 60,000 miles or so on it and probably carry expensive repairs before too long.

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