Buying a used car in troubled times: Beware the depreciation monster

The used car lot: treacherous waters, (Flickr/GmanViz)

 Buy a supercar, from Ferrari, Koenigsegg or Lamborghini, and the money you lose the minute it’s out of the dealer’s lot could buy a small house in much of America. That’s one reason I usually buy used (and never a supercar). But the biggest cause of depreciation is actually high mileage, according to a new online survey by Ipsos for CarMax, the biggest used car retailer. It was cited by 33 percent of the 1,000 American adults surveyed.

  Ironically, high mileage should not necessarily stop you from buying a used car. If the vehicle in question was used mostly for highway commuting and enjoyed rigorous maintenance—and passes every test with a clean bill of health—I say go for it.

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