Unless I’m buying new, I buy from a private party.
I work for an international corporation and they have a digital employee bulletin board for selling used items. I’ve seen fantastic deals on newer used cars from managers who are being relocated overseas.
Not exactly. With a lease, your loan amount is based (partly) on the assumed resale value of the car at the end of the lease - as some columnists explain it. you’re just borrowing the depreciation amount. E.g. car worth 20,000, will resell for 10,000, so you’re paying on 10,000 vs. 20,000. That’s grossly oversimplified of course, but is a way of looking at it that helps put things in perspective.
The difference of course is that if you lease, in 3 years you need to take out ANOTHER 3-year lease and pay another 10,000 loan. And 3 years after THAT, you repeat all over again. Whereas with a purchase, you’re paying on the whole 20,000 which is a larger payment, but then you own the car.
Someone got an absolute steal on my Continental for that reason. One prospective buyer thought I was a craigslist scammer because of the low price. It was actually Blue Book; all of the other Continentals were simply way overpriced.
I didn’t have time to unload the Expedition, though. Maybe during my home leave in December. People will be wanting 4x4’s when the snow starts to fall.