“If you drive less than 5000 miles a year never buy a new car. One of my friends bought a new Toyota Camry last November. Till now he has put only 3000 miles on it. He goes to his work place by train and he uses his car only for small trips to the store or very long drives that happen once in a blue moon. 

Whatever be the resale value of Toyota its value will depreciate at least $1000/year. So my friend who just drove 3000 miles is losing 33 cents (on top of gas price) on his new car for each mile he is driving. 

Ninety nine percent of the time it depreciates. So what is the best way to beat depreciation and buy a good car? I will always go for a second hand car that is about 3 years old. In that way the car has undergone the maximum depreciation in 3 years and mechanically will be in good condition.”

 Brijesh gives us thumb rules for buying a car in the US.