Quote:
Originally Posted by Official NOCO
I think a used BMW or other luxury vehicle scares a lot of people away because of the potential repair costs. My guess would be that Toyota's hold their value so well because of their reliability. When you spend 20K on a used Toyota vs. 20K on a used BMW you have to imagine that the BMW will have much more expensive repair costs in the long run.
|
I agree with what you are saying but always surprised with the "I might have a costly repair so instead I am going to go with the guaranteed costly depreciation". If you buy new and lose $25k over 5 years in depreciation you can probably also afford most repairs.
I also agree that the $20k Toyota is far less likely to have an expensive repair, partly because it is more reliable and partly because it is probably newer and/or have fewer miles on it.