In my last post, I detailed my need to buy a different vehicle in the next year or so. I saw a certified pre-owned vehicle for about $15,000 but I then I saw a 2005 Honda Civic on sale for $1,500. This used car was a tenth of the price. An idea then came to me. Even if that used Civic only lasted me three years, the $15k I would have used to buy that one car could buy ten cars in the $1,500 range. That’s approximately 30 years of having a car to drive. Would that single used car at $15k last me 30 years? The odds are very low.
Each of those ten cars obviously wouldn’t be from 2005. As each car got replaced, I’d buy a slight newer car as time marched on. So, the next model would be a 2009 model or so forth, all in the $1,500 range. I suppose I’m sorta re-creating a lease of some sort.
This idea appears extremely sound but I suppose there are flaws to this that I don’t see yet.