I was thinking about this last night after a conversation with a friend and I thought I’d write a small post about it.
To get a car for free is all about timing the resale value of a car and having a little cash on hand. Take my truck a 2007 Tacoma 4WD. It has a resale value of $15,000.
Let me give you the resale values of the same make & model on either side of mine:
2006 – $12,000
2008 – $15,000
2009 – $16,500
Now if I wanted to keep my truck forever I would just trade-up once a year for a car about the same cost as mine.
Take it further.
Let’s say I really hunt for a good deal and I get a 2008 on the lower end ($13.5k), then a year later I’m able to sell it and make a little profit, $2K. I do this a few years in a row now I could be up to a $20K car/truck. Still not paying anything other than sales tax. If you’re a good wheel & dealer, you can offset this cost by your negotiation skills.
So now this is how you get and keep a car for free, the key is timing the resale value and year you’re purchasing.