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Buying a new Leaf

jonn3jonn3 AtlantaPosts: 2
edited January 12 in General
My wife bought a 1 year old Leaf. We love the car! A 2015 SV. A perfect city commuter.
We usually keep a car 10 years. Or more. (my Lexus is going on 12 years, and has only been in the shop once, for a minor repair). But we are in our 60's, and night driving doesn't feel as safe.
We'd like to sell the car and get a year old 2018, with the radar and driver aids. We paid $19k for the car, and may get 13k when we sell it. A $6000 loss. We can live with that, and I can understand the loss. And the gain of new technology. But how do I figure in the added value of a newer car? How do I plug that into the equation? There is more to it than the price difference. There are taxes and other fees, with a new car.
I'm just curious. We will get the car, regardless.
Any thoughts? Thanks.

Answers

  • kyfdxkyfdx Posts: 104,526
    jonn3 said:

    My wife bought a 1 year old Leaf. We love the car! A 2015 SV. A perfect city commuter.
    We usually keep a car 10 years. Or more. (my Lexus is going on 12 years, and has only been in the shop once, for a minor repair). But we are in our 60's, and night driving doesn't feel as safe.
    We'd like to sell the car and get a year old 2018, with the radar and driver aids. We paid $19k for the car, and may get 13k when we sell it. A $6000 loss. We can live with that, and I can understand the loss. And the gain of new technology. But how do I figure in the added value of a newer car? How do I plug that into the equation? There is more to it than the price difference. There are taxes and other fees, with a new car.
    I'm just curious. We will get the car, regardless.
    Any thoughts? Thanks.

    If you use a car for two or three years, and then it's worth less, that isn't a loss. That's just depreciation. You received value for that. (a car to drive).

    If you are trying to quantify the benefits and costs of upgrading to a newer model, not sure I can help you.

    Do you owe money on your current vehicle? If not, then the price difference is just about everything. DMV fees on a new car in GA will probably be $200-$300, and sales tax is 7%. If you buy your vehicle from a dealer, be aware that most dealers in GA have a $499-$799 fee (not for anything specific).

    Doesn't a new Leaf come with a Federal tax credit? Won't you lose that by buying a used model? If so, make sure the price is low enough to more than make up for that.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • jonn3jonn3 AtlantaPosts: 2
    Thank you. We won't get the federal credit, but that price is reflected in the used car price.
    And of course, good ol' Georgia dropped their $5000 rebate just before we thought of buying one. AND... added another yearly fee to make up for the lost gas tax. And of course, the fee is equal to what they charge for a gas-guzzler. They made up some other fee, too. It's almost like they don't want fewer ICE cars on the road!
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