Second hand cars
must hold their value much better in the USA.

For $5k (about £3k) you could get a 5 year old family saloon car over here.

A small 1990 Mazda would fetch about £100.
( K2k6 has a proper job these days, Tue 10 Nov 2009, 12:21, 2 replies, latest was 16 years ago)

Or it'll be traded in for the scrappage thing.

(PsychoChomp, Tue 10 Nov 2009, 12:24, Reply)

It's a shit scheme
You're always going to be better off buying a one or two year old car than trading in for a new one.
(Bazongaloid, Tue 10 Nov 2009, 12:27, Reply)

True
but people like to have new shiny stuff.

I bought my current car with 4k miles on it for 75% of its new price. That's a far better bargain in my book.
( K2k6 has a proper job these days, Tue 10 Nov 2009, 12:28, Reply)

I was going to buy a new car
but I decided that spending all my savings on a car in these somewhat uncertain economic times when I'm about to reduce my commute to a ten mile round trip each day would be a bad idea.
(Bazongaloid, Tue 10 Nov 2009, 12:30, Reply)

You are most sensible in that decision
There's always a time to replace a car. But that varies depending on what your needs are, how much money you're willing to throw at either fixing the old one or buying a new one, and whether you can be arsed with constant repairs to keep the old one going.

These factors are widely variable among the populace. And many folk don't think it through.
( K2k6 has a proper job these days, Tue 10 Nov 2009, 12:33, Reply)

I feel suitably validated
ONLINE!
(Bazongaloid, Tue 10 Nov 2009, 12:35, Reply)

Depends on the car.
My Amigo is a 1995 and is valued at about $645 according to the Kelly's Blue Book value. In truth the Miata, being a 1990, is probably not valued very high- they're asking $3890 for it- but it's probably worth it for a car with so few miles.

Hmmm... the Blue Book on that is $2710. I think I might have some bargaining room.
( The Resident Loon Not a demographic. Do not measure., Tue 10 Nov 2009, 12:36, Reply)