Used Honda prices make no sense

Man, it is hard to buy a vehicle. I can see how people get screwed all the time with high pressure sales tactics.

The Ridgeline I am looking at is $30500. Taxes and fees take it to $33214. Extended warranty package + 4 pre-paid oil changes makes it $36308(this is really expensive for extended warranty, we paid under $900 for my dad’s 7 year Toyota platinum on a $47000 Tundra). If I can get 4% interest rate, that is $40120 in 5 years.

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Let’s take a look at a new one. They have what seems like minimum $3000 on the hood. So, a $40250 truck minus $3000, plus taxes and fees, it ends up being right at $40385. But, Honda has 1.9% for 60 months (far from stellar, I expected 0% these days). It ends up being $42472 for a brand new car after 5 years of interest.

So, I can have a used car, with 27000 miles and extended warranty, and save $2352 over brand new car with full factory warranty with no ones farts in the seats. That is 87 cents per mile. Crazy. Might just buy new. 

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