Leasing a used car is even worse than leasing a new car. However, I would recommend buying a used car (for cash) to avoid the initial depreciation. Let some other sucker pay for the initial deprecation (there are plenty of them out there).

I quite agree.

I just bought a 2009 Mercury Grand Marquis LS Ultimate edition in May of this year for $15,988.

It had a mere 13,150 miles on it, when I bought it for cash;
and the balance of the 3 year / 36 month factory warranty on it when I purchased it from a Ford Mercury dealer who cherry pics good examples from dealer-only auctions.


MSRP was about $29,800 on it new.

This unit was built and put into service in April 2009 as an Avis daily rental in Los Angeles and retired in January 2010.

I paid cash and let someone else eat almost 50% of the depreciation it took after a year.

I added a cat back clone Crown Vic Police Interceptor dual exhaust, and a Police Interceptor full sze spare tire and matching stock wheel, and couldn't be happier, as it is a paid off next to new car, and LOOKS new after I claybarred it, and waxed and detailed it.


At about 19-24 mpg on cheap regular, it has run perfectly and just turned 21,000 miles and is smooth, comfortable, roomy, (room enogh in the back seat too, not only for 3 kids, but room enough back there for them to FIGHT !!), pretty safe, and spacious and I expect to keep it for years. Police and taxi versions prove its durability and toughness.

If I were you I would consider a one year old one, as true dollar for mile value, including depreciation, repairs, insurance, gas mileage, loan interest, etc. (which is the true cost of actual ownership,) they can't be beat by anything out there.





just put a pair of new, regular issue CA. alphanumeric, NON personalized plates on it.




The dealer that sold me mine just scooped up 5 more of them, in various colors. All 2010 models, identical to my 2009 one from this same dealer.

http://gridleycountryford.com/powersearch.cfm

They are extremely common in Florida where you are. The last of them (production ends by December 2010 and the St. Thomas Ontario, Canada factory will permanently close then) are beginning to be retired as lightly used rentals right now.

Think outside the box. Pick your color.

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1991 560 SEC AMG, 199k <---- 300 hp 10:1 ECE euro HV ...

1995 E 420, 170k "The Red Plum" (sold)

2015 BMW 535i xdrive awd Stage 1 DINAN, 6k, <----364 hp

1967 Mercury Cougar, 49k

2013 Jaguar XF, 20k <----340 hp Supercharged, All Wheel Drive (sold)

My approach is to have a nice, higher-mileage car and a beater car. The beater car fills in when I need to carry something nasty and when the nice car needs work. Next spring for example, while my nice car (1999 BMW 528i, 145,000 miles) spends a week or so on jack stands getting some DIY suspension work, my 1985 300D will get me around.

Not a practical approach for most people, but I like older cars and it works out to be dirt cheap on a cost per mile basis.

I went a similar route for my truck. I needed something newer and reliable since I'd be taking so many trips with it.

2003 Cadillac Escalade EXT with 45,000 nukes (avalanche style with odd truck bed)

Original MSRP. $55,000. I paid $16,500. Only repair in 6,000 miles of driving is a $180.00 alternator.

Then again, when I got my BMW X5 a few years old at 24k, and sold 3 years later with 75k, it would have been cheaper to have leased a new one. Once the warranty went off, the car was a nightmare! Originally paid 34k, once it went off warranty I had to sink $5000 in unscheduled repairs to keep it running, and unloaded it for $18000. Thank goodness I sold when I did, though. I ran into the next owners, and the transmission was giving them troubles, the stereo display was giving out, and they couldn't open the driver's side door from the outside.

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1985 500SL Euro w/ AMG bits 130k
1984 300SD Turbodiesel 192k
1980 240D Stick China 188k
2001 CLK55 AMG 101k
2007 S600 Biturbo 149k Overheated Project, IT'S ALIVE!!!