I'm looking at buying a used car for a 2 month road trip across Canada and USA.
I'm thinking of buying a car for $15,000 and selling it after the road trip.
1. I'm looking at putting 12,000 KM to 15,000KM on the car. How much will the car depreciate in value when I sell it?
2. What would be all the transactions costs in terms of buying/selling the car? Eg. insurance, sales tax, etc. What else am I missing?
3. If I'm renting a car for 60 days, I'm looking at $80-150/day. $80/day for a economical car, $150/day for a fun car like a mustang. If I rent the mustang, I'm looking at $9000 in rental cost. Is buying/selling a used car worth it in terms of costs and headache?