I do not understand this statement.

A new car depreciates very fast for the first few years, then much more slowly. That's why many 3-year leases have the residual at about 60% - the new car depreciates 40% from sticker in the first three years. (And some people say it actually depreciates more than that and will be worth less than the residual.) It will depreciate much less than that in the next 3, and still even less in years 7-9.

Your car is an '02; you've already paid for the rapid depreciation. Future depreciation will be at a much slower rate than before; it isn't something that "is really going to start coming into play pretty soon."

 

Oh yeah forgot to mention...I got my 2004 back in December brand new for $28,xxx. So to buy that one used for 27 is crazy...

 

What I was saying by that is that I am selling the car almost for what I paid for it a year and a half ago. If I sell it now, I can get almost what I paid. But once it hits a little higher mileage it will drop several hundred more dollars. Im just trying to get out of it now while I am not losing very much money at all. I hope you guys understand what I am trying to say.

And I understand that he is my dad and all but sometimes he seems to take a LONG time to get my car down here. He just kind of puts it off like its not a big deal. I have done it before with my first car. This time I am working 2 jobs and going to school so I dont have much time to be without a car. I was trying to explain all this without getting into too much family details but I will just say its a pain in the azz to get thing dones with my dad.

Thanks for the responses guys.

Oh and I am hoping I can get the guy to come off the price some. This price is before any type of negotiation at all.

 

And what would you guys think a good price to offer woud be?

04 with around 2k miles or so. It also has wet okole seat covers. It has only been drivin about thirty something times. It has pretty much just been kept in a storage facility and has not even had the first oil change yet.

 

And if it means anything, kbb has it from private party for $26,890.