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March 9th, 2013, 05:58 AM
Join Date: Jun 2007
Actually used cars are in such high demand and overpriced up here, and the depreciation on Acura is so low that he'd only save about $1000 to buy a used car with under 25k miles on it. My Mazda sold a week after I traded it for $500 under what I bought it new - Honda sold it for $17850 according to the records. They were going to give me $13,000 for it but I ended up with $15,200 for the trade in value.
That would be true for other brands like Kia or Ford though.
I also think he will get a lower interest rate and a longer loan term on a new car which brings the monthly payment down too.
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