QuestionHi.
I have a 2002 leased Pilot with 65,000 miles that I am trying to decide whether I should purchase it or not. I thinking about buying a car (to downsize) as opposed to an SUV, but would need/want something great in the snow. I know I don't want a Subaru and can't afford an Infiniti, any other recommendations for who makes an affordable car with all wheel drive?
AnswerLaura,
I just had some surgery so my answers are kind of short lately. There is something that I want to add though regarding your car purchase question.
Whenever possible, I recommend purchasing a good used, vs. new vehicle. A good modern day vehicle will run at least 200,000 miles with proper maintenance. There is just no practical reason to give up a 20% overnight depreciation to a new car dealer when there are so many vehicles available with 50k or less miles on the used market. Contrary to myth, most used cars are not "lemons". They are traded in because of bordom, financial reasons or lifestyle changes. Additionally, there are many "off lease" vehicles on the used car market.
The best way to buy a good used vehicle is to check the vehicle history on a database such as Carfax, have it checked out by an expert who can identify both mechanical and body repair issues and to shop around for and purchase a good vehicle service contract (extended warranty). These contracts are sold by all dealers. often a 100% profit margins so there is room for negotiation.
One day I'm going to sit down and do the math, but I predict that as Americans, we lose so much money on new car depreciation that if we were to only buy used cars over a lifetime and keep each one for at least 5 years, we'd likely retire a couple of years earlier.
Good luck!
