Resale Value

[forestacademy]

Every Used car lot I go by has at least One Mini on it. Reminds me of 10 years ago when every dealer had One Geo Tracker on the Lot

[Terry Stibal]

...or five years ago, when every lot had a new VW Beetle. And, those "cute" cars are always parked on the featured car stand...

Every model of car has what I call "impulse purchase cars". Buying a car because it is "cute", looks "hot" or is the au courant flavor of the month is a poor way to make a decision, but that's what many do.

I think that the current crop of very low mileage smart vehicles is due in equal measures to impulse purchasers who didn't think through the low cargo volume, two seater nature of the beast, and to those who thought they were going to make a killing when the market was hot. Now, once they have thought about it for a little while/missed the crest of the "the smart is hot" wave, both sets of folks have had second thoughts and are trying to get out with as little loss as possible.

Easy credit has had a hand in this as well. Back when it took a week or two to get approved for a loan, you had time to think about where you were going to stuff the children for a weekend trip. Not so today - walk in the door, sign a piece of paper, and you can walk out to your new car in hours rather than days or weeks.

Since we've had it, we have not suffered one bit of "buyer's remorse" concerning our smart. Ditto with every other car purchased over my last forty five years save one, this being a Ford Granada inflicted on me by my first wife. But, I generally start picking out the replacement for a car or van at the next auto show to come to town. That way, when the current car reaches 150,000 or so on the odometer, it's a simple matter to start pricing the new one when it's time to pull the plug.