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    You are at:Home»Passive Income»Why I bought a NEW car
    Passive Income

    Why I bought a NEW car

    adminBy adminOctober 13, 2026007 Mins Read
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    Why I bought a NEW car
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    Published: 26 September 2022 – Updated: 15 October 2024
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    I am 53 years old. Never in my life have I allowed myself to buy a car I truly love…until now. This is the story of how I allowed myself to make a huge purchase just for the joy of it. And it wasn’t even a purchase I’d intended to make. Let me explain.

    During the peak of the pandemic (early July 2020), I paid $35,990 for a used 2019 Mini Countryman SE All4. The Countryman — which I call a “Maxi Cooper” — isn’t a bad car, but I regretted buying it almost immediately. I’d intended to replace my 2004 Mini Cooper with a newer version of the same model, but allowed myself to be talked into a compact SUV.

    For two years, I drove the Maxi Cooper and tolerated it. It wasn’t a bad car by any means, but it was a bad car for me. I’m not an SUV guy. I’m a small-car guy.

    Last month, I took the Maxi Cooper for an oil change. While I was waiting, the dealer offered to buy it back from me. I wasn’t expecting that.

    As you probably know, the used-car market in the U.S. has been crazy for a couple of years. According to the U.S. Federal Reserve, Why we bought a NEW car. Here’s a relevant excerpt:

    “In normal economic times – or rather, in past economic times – used cars were remarkably cheaper than new cars, which made the depreciation on new cars astronomical. In other words, new cars would lose a tremendous amount of their value as soon as they were no longer new.

    “Used cars, on the other hand, had a much more gradual depreciation curve, which meant you could buy a used car for a reasonable price and then, if needed, re-sell that used car at a reasonable loss. Currently, thanks to supply chain issues, a shortage of computer chips and inflation, used cars are no longer a deal.”

    Unprepared to Purchase

    After the Mini dealer offered to buy my vehicle, I immersed myself in car information. As I did, I made myself a promise: For the first (and perhaps only) time in my life, I was going to buy a model I wanted without making compromises.

    You see, every car I’ve ever owned has involved some sort of sacrifice. When I was young, the chief compromise was cost. I couldn’t afford more expensive vehicles, so my options were limited. In more recent years, I’ve compromised by buying used. Then by purchasing a compact SUV instead of a sports car. And so on.

    This time, I didn’t want to compromise. I wanted to buy exactly the car I wanted. But which car would that be?

    Because I hadn’t intended to get rid of my Maxi Cooper, I’d done zero thinking about what kind of car I might buy to replace it. Normally, people figure out what kind of car they want before selling their old one. I was doing things in reverse. I was applying my self-centered shopping strategy to buying a car!

    For a time, I considered not replacing the car at all. I still own a 1993 Toyota pickup. It’s ugly, but it works. Plus, Corvallis is a small city with excellent infrastructure for alternative transportation. I walk 20+ miles per week through town and would happily walk more. This summer, I’ve been biking for longer errands too. Going car-free was certainly an option I considered, as was buying another 2004 Mini Cooper. Ultimately, though, I decided to use this opportunity to upgrade to a some sort of new car.

    Before we go any farther, it’s important to note a few things about my relationship with automobiles.

    • I’m not a car guy. I’m not a motorhead. I don’t obsess over cars and I never have. I do like certain cars, but I’m not normally somebody who buys car magazines or watches car videos.
    • I believe that used cars are almost always the smart American obsession with large vehicles. It makes zero sense to me. When I rent cars in Europe, I’m always pleased with how many small cars are on the road. They’re almost all small cars.

    My ideal car remains a 2004 Mini Cooper — but with modern technology updates to bring it into the world of 2022. Unfortunately, that car doesn’t exist. Modern Minis are larger than they were twenty years ago. Worse, their customer satisfaction scores have eroded. (I also like the
    <p>Early in my research, I discovered the Consumer Reports car finder tool. This three-question quiz (which is only available to subscribers) proved helpful.

    According to this tool, the five cars best suited to my needs were the Kia Niro Electric, the Ford Mustang Mach-E, the Mazda Miata, the Tesla Model 3, and the Hyundai Ioniq 5.

    Although I was tempted, I ruled out the Tesla because (a) it’s too expensive and (b) it has mediocre reliability. I eliminated the Kia and Hyundai because they didn’t earn top owner satisfaction marks. And the electric Mustang isn’t actually a sedan; like my Maxi Cooper, it’s an SUV. (I’m not sure why Consumer Reports recommended SUVs to me when I deliberately left them out of my search parameters.) That left one car: the Mazda Miata.

    Here’s the thing: I’ve always been drawn to Miatas. I like how they look. They’re consistently highly-rated by both customers and professional reviewers alike. And they check all of the same boxes for me that the Mini Cooper does.

    The Miata quickly soared to the top of my very short list. Also on that list were the Mini Cooper (which I still love despite its drawbacks) and the more-practical Subaru Outback (which is the unofficial state car of Oregon).

    Here are comparison pages from Consumer Reports and Kelly Blue Book:

    Looking at those stats, I think you can see why the Miata quickly became the only car I was seriously considering. The car’s only major downside was a middling road score. Reading
    <ul><li> Consumer Reports likes the Miata.

  • <li> Motor Trend likes the Miata.
  • The Miata reviews on YouTube all reinforced what the written articles had said. But it was this review from a car-care channel that made me decide at last that the Miata was the car I wanted: “It’ll bring joy to your heart every time you drive it.”

    Buying My Miata

    Buying a car is a big decision, and I’m not accustomed to jumping into things like this. I take my time. I ruminate. I consider every angle. That’s not what I did this time. On the last Thursday in August, I drove to Salem to visit the nearest Mazda dealer.

    I’d called the salesman in advance, so he had a Miata ready to drive. Before we left the parking lot (after driving only fifty feet), I knew that I was going to buy a Miata — if I could get $33,000 for my Maxi Cooper. For the sake of show, I drove five miles around Salem streets while making pleasant conversation with the salesman. I explained that I hadn’t intended to buy a new car, but that the Mini dealer had made me an offer I couldn’t refuse. Would he be willing to match the offer? “Maybe,” he said.

    When we returned to the dealership, I gave the salesman the file of paperwork for my Maxi Cooper — including the written offer the Mini dealer had made me the day before. He took the info to his boss. Ten minutes later, he came back with some good news. “We’ll match their offer,” he said.

    “Great,” I said. I pulled out another piece of paper, a printout from the dealership’s website. “This is the car I want. It’s a gray hardtop. But your website says the vehicle is in transit.”

    This was the only time during the entire process that the salesman balked. “What can I do to send you home with a car today?” he said. He pulled out a piece of paper and
    <p>To double-check, I sought the counsel of two people I trust. First, I asked my buddy Jeff (

    bought
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