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nazgulnarsil comments on Advice request: Buying a car - Less Wrong
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http://www.edmunds.com/tco.html
Lowest TCO over 5 years, 2008 data:
$0.427/mi. - Chevrolet Aveo "Special Value" 4-door hatchback, 1.6, 5-speed manual
$0.429/mi. - Hyundai Accent GS, 2-door hatchback, 1.6, 5 speed manual
$0.442/mi. - Honda Fit, 4-door hatchback, 1.5, 5 speed manual
$0.445/mi. - Toyota Yaris 2-door hatchback, 1.5, 5-speed manual
$0.455/mi. - Honda Civic DX, 1.8, 5-speed manual
$0.463/mi. - Mazda3 iSport, 2.0, 5-speed manual
$0.464/mi. - Kia Rio sedan, 1.6, 5-speed manual
$0.467/mi. - Scion XB wagon, 2.4, 5-speed manual
$0.468/mi. - Toyota Corolla CE sedan, 1.8, 5-speed manual
lowest TCO when buying used is usually something like buying a two year old car and then selling it after a few years based on further depreciation curve. You can drive for stupid cheap if you time your buy and sell correctly.
Could you explain and/or write up this method? Please?
In general the biggest issue is avoiding the biggest depreciation hit which is the first 2 years. Cars generally have another drop off in value a few years later when they aren't perceived as "new" anymore. This varies from model to model as the introduction of a new revision affects it, along with popularity and other factors. So you look at the depreciation rate of the cars you're interested in and choose the spots that minimize your expected cost. When I purchase I look at the kelly blue book values over time to see how they drop.
Interesting. Thank you!