Is it worth it to finance a used recent (within 3 yrs) model?

>>16324956
No. Most cars made in the last 3 years are shit. Tiny windows, high beltline, shitty safety features, etc

>>16324997
Not everyone on /o/ wants to look poor, senpai.

>>16324956
Within 3 years, usually the car is still depreciating rapidly. The only time this is not true is if demand for the used car is still very high, which is usually only true for low production models. You can expect depreciation to level off about 7 years after it was sold, but again you'll have to look into your specific make and model to figure out the exact dynamics. New generations usually cause depreciation of the entire old generation, etc.

The problem is that it will be difficult to find someone who will finance a 7-year-old used car. Your bank probably won't do it.

My advice? If you think the car has depreciated enough, and for some reason have some need for a recent, within 3yrs car, then getting the loan could be worth it.

I personally wouldn't do it, as I pay cash for my cars.

>>16324956
No shit it's got a negative slope, because youths aren't going to be set in a career yet.. Pretty useless figure unless you compare both groups at the same age.

>>16325110
>No shit it's got a negative slope, because youths aren't going to be set in a career yet.. Pretty useless figure unless you compare both groups at the same age.
The dependent variable is the likelihood of earning more than their parents. It's a predictive model, factoring in age. When this is below 50%, it means most "millennials" are more likely to be poorer than their parents than not.

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>>16325039
You look poorer in a new low end BMW than you do in an older car in really good condition.

>>16325917
This. I see dented and scratch luxury cars that the owners can't afford to keep up. Save your money, and buy something you can afford.

>>16325039
To translate part of that: a 3yo taco should be cheap as shit since the 2016 is redesigned, whereas anything that can conceivably be the current model holds is value a lot better (Cherokee 2nd gen xj experienced this back in the day)

>>16324956
No, it's never good to finance a car, the only time it may be OK is on new cars that aren't selling, otherwise you always be better with paying cash as you will be charged more in interest than you get on savings.