Is a Used Car Worth It? Examining Self-Reported Data

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It may be better to purchase a new car instead.In summary, the stats provided suggest that a car's reliability decreases by 5% for every 30k miles, while its selling price decreases by 30% and its buying price decreases by 15% for the same mileage. This may indicate that it is not worth buying a used car after selling your own, as you are likely to get less for your car than what you would have to pay for another. It may be more beneficial to purchase a new car instead.
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AINtKpkC3BBNn
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I made up some stats because I don't have a source of such data, and I'm looking to find out whether they're plausible and self consistent. If not, please correct them. They needn't be verified or actually sourced from a study, personal experience should suffice. This is for a question as to whether it's worth it to buy a used car after selling your own used car.

A car's reliability decreases by 5% for every 30k miles.
Its selling (you to buyer) price goes down by 30% for every 30k miles.
Its buying (you from dealer) price goes down by 15% for every 30k miles.
 
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These stats are plausible and self-consistent. The decrease in reliability is greater than the decrease in selling price, which is greater than the decrease in buying price. This indicates that it may not be worth buying a used car after selling your own used car because you're likely to get less for your car than what you'd have to pay for another.
 

Related to Is a Used Car Worth It? Examining Self-Reported Data

What is the purpose of the study?

The purpose of this study is to examine self-reported data from individuals who have purchased a used car to determine if it is worth the investment.

How was the data collected?

The data was collected through self-reported surveys from individuals who have purchased a used car. The surveys asked about their overall satisfaction with the car, its performance, and the cost of maintenance.

What factors were considered when determining if a used car is worth it?

The study considered factors such as the cost of the car, its performance, and the cost of maintenance. It also looked at the overall satisfaction of the buyers with their purchase.

What were the main findings of the study?

The study found that the majority of individuals who purchased a used car were satisfied with their purchase. They also reported that the cost of the car and its performance were the main factors in determining if it was worth the investment.

What are the implications of this study?

The implications of this study suggest that a used car can be a worthwhile investment for individuals who prioritize cost and performance. It also highlights the importance of thorough research and consideration when purchasing a used car.

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