He even mentions the second point, then goes on to completely ignore it:
- Never buy new.
- Just buy something 2-3 years old after it comes off someone else’s lease.
A quick look on Kelley Blue Book says that $51,790 Ford Expedition drops to $24,925 after 3 years and 55,000 miles. Using the same parameters for the loan comes out to payments of $418 per month.That's still a chunk, but it doesn't have quite the same shock value as the brand-new MSRP prices presented...
Now, $418/mo is still a far cry from the $165/mo you can get out of a lowend, 3-year-old Kia Rio, for sure. I drive something similar now. But the article still kind of rubs me the wrong way...