2. Always buy exactly the car you want, no compromises, even in the used market.
Now you may be thinking, “Wow, I can afford X-car.” Yes you can, if you’re willing to accept some lightly used mileage. Modern cars are so well engineered, engines are expected to last 150,000 miles with proper maintenance, and I’ve seen many more within the past 10 years that knock on the 300,000 mile door. The risk of 5,000 miles of wear is minimal. Now that you have accepted that idea, you’re looking for cars in that general price range. Doors open. You were looking at a Toyota, Ford, or Mazda, but now you’re looking at Lexus, BMW, and Mercedes Benz vehicles that are just a couple of years old. Doesn’t it feel good to try and get what you really want?
Get the car you want, exactly. A buyer should think of the car as an investment. The vehicle may be a depreciating asset, but it makes it worth while to enjoy the car under ownership. Lucky for you, the highest rate of the depreciation of the vehicle is done after the first three years of an owned vehicle. Checking out those luxury cars? Get the options you want. Some option packages hold value well. Navigation systems and upgraded audio systems always hold value. A buyer should not have a hint of remorse when buying any vehicle, new or used. The worst case scenario is, you don’t want the car after a limited period of time. Now you, the owner, is taking the hit of depreciation by putting the car back onto the market.