$tarter wrote: ↑
Wed Apr 25, 2018 7:29 am
You are correct if you turn a car over every few years. Buying a vehicle new isn't a bad idea if you keep it long enough. Leasing a new car is the real waste of money, the only time that works is if you are able to deduct it from taxes because of business use. I buy new and keep between eight & twelve years. I get the benefit of the factory warranty and the accurate knowledge of how the car was maintained and used. Of course I also pay cash for the car when I buy it, no financing. That works out because the current return on that money, had I invested it, is less than the interest I would have had to pay on a car loan. Be smart with your money folks. Cars are never an investment. They are always a cost center.
Well that's another thing. I also bought this car cash.
I guess I'm just blown away by the absolute waste of money new-ish cars are. I can't imagine financing a new car at a poor rate, and then paying the minimum every month. Mind boggling how much money people throw away every month.
Lesson I learned.