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Subject:  Re: Look rich but live cheap Date:  11/18/2003  3:07 PM
Author:  BenSolar Number:  249 of 1845

Buy classics. At first this sounds like an expensive move; classics always cost more. But for certain purchases, spending more may be a better investment in the long run. ... “I decided to buy a five-year-old BMW this year,” says Sandy deNicolais, former fashion and beauty editor of Women's Day. “The payments for a brand-new Honda were the same. But in five years, that Honda won't be worth as much as my BMW. The BMW will last longer, it's higher quality, it's got more style.”

I liked the article for the most part, but the section quoted above about a 5 year old BMW being a better value proposition than a new Honda is highly questionable, IMO. A 5 year old BMW will last longer than a new Honda? I don't think so. Hondas are extremely well made and long lived, and a 5 year head start is quite a lot. Higher quality? Probably more luxurious, possibly higher performance, but quality? I don't personally think so. More style? Well, I'll give her that one. ;)

Personally I'd take a babied 2 or 3 year old Honda or Toyota over either a new one or a more used BMW. The sharpest deprecriation already gone, but still most of it's useful life ahead of it. Iron clad quality and widely available, relatively affordable repairs. Repairs on the Beemer will be horribly expensive as it gets on in years ...

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