Why would anyone buy a new car? - Saab General Bulletin Board - Saabnet.com
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Why would anyone buy a new car?
Posted by Noel (more from Noel) on Mon, 13 Jun 2005 07:01:40
In Reply to: How do you rationalize getting a new car?, AlexA, Sat, 11 Jun 2005 06:45:05
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New cars are about the biggest waste of money known to mankind. They cost more to insure, the taxes are higher for several years, and you get to pay interest for the priviledge of driving something new. The only way to buy a new car and make it work long term is to pay cash and drive the car into the ground.
Bettter to buy a CPO car (you pick the brand) or a decent used car and get a lot more for your dollar. Or keep your 9-3 and buy something purely fun--you choose.
Better yet, put the money into a condo or other real estate where it will appreciate.
Having had two new cars and many used ones, I've found minimal value in having a new car, except for having fewer repairs for awhile. I find it's usually much less expensive in the long run to keep a good car than to buy a new one. I go by the "payment equivalent rule." The most I'm willing to make for a payment (I'm a tighwad) is maybe $300/month. So if a car I have is costing me the equivalent of that to keep it running (other than normal once every so often stuff like tires), or if needed repairs amount to the value of the car (or exceed it) and more are predictable, then it is time to get a new car. Or in my case new to me.
Just my $0.02.
N
posted by 69.163.3...
Posts in this Thread:
- How do you rationalize getting a new car?, AlexA, Sat, 11 Jun 2005 06:45:05
- Why would anyone buy a new car?, Noel, Mon, 13 Jun 2005 07:01:40 <-- Viewing This Message
- I agree, CWilson, Mon, 13 Jun 2005 08:04:19
- Do a retirement calculator @ $100/mo savings, Chuck in SD, Sun, 12 Jun 2005 07:25:57
- It really is a tough call, NateinAA, Sun, 12 Jun 2005 06:32:57
- Re: How do you rationalize getting a new car?, Caarma , Sat, 11 Jun 2005 16:45:32
- Rationality aside,......, Mike Lynch , Sat, 11 Jun 2005 14:12:59
- not easily..., Scott Paterson , Sat, 11 Jun 2005 11:34:02
- You don't :-), sonique, Sat, 11 Jun 2005 08:15:17
- Re: How do you rationalize getting a new car?, Dick in Falls Church, Sat, 11 Jun 2005 08:11:07
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