He's putting 95k miles a year on the vehicle with his assumption (which tends to be conservative for the transportation industry, a car service guy mentioned to me once his black cars tend to accrue 150k/200k miles a year, since "you don't make much money by keeping it parked").
There aren't a lot of vehicles which you can buy used, put 95k miles a year, and end up with reliable vehicle 12 months later. You basically trade up initial investment cost vs subsequent maintenance cost.
Also, if he has good credit, I could see how automakers' aggressive 0% financing could result in a lower monthly payment for a new car than a used vehicle (since no one will finance a used car at 0%).
There aren't a lot of vehicles which you can buy used, put 95k miles a year, and end up with reliable vehicle 12 months later. You basically trade up initial investment cost vs subsequent maintenance cost.
Also, if he has good credit, I could see how automakers' aggressive 0% financing could result in a lower monthly payment for a new car than a used vehicle (since no one will finance a used car at 0%).