Car Ownership - Weighing the Cost?

Options
So now you've identified a vehicle that clears every price/value hurdle so far. How should you equip it? Higher trim levels or factory options can be a decent investment, since they raise the value of the vehicle throughout its life span, and you get some of that money back when you eventually sell. Aftermarket modifications typically return less of their original purchase price when you eventually sell the car. Extreme modifications often reduce the resale value—unless you can find a buyer who shares your unique tastes.

Trade-In Value
When it's time to trade-in, it's easy to fixate on the purchase of your new car and all but forget about your old one. Don't make that mistake; depending on how you dispose of the old clunker, the difference in money could be huge. If you're trading in your old car as part of your new car purchase, treat it as a critical part of the transaction—not an afterthought. There's little point in grinding down the purchase price of the new car with relentless negotiations if you're blindly accepting whatever they'll give you for your old car. There are many web sites that can provide you with a realistic value for your old car, and provide you with a starting point for negotiation. If you've got the time and the inclination, selling privately can put much more money in your pocket than trading in—easily 20-percent more. Which, being a good American consumer, you'll no doubt sink into an even bigger and better new car.