Comments on: 4 Reasons You Should Buy a New Car

By: J. Money

J. Money — Wed, 04 Nov 2015 18:46:33 +0000

In reply to Jen. are you comparing the same model car though? and other expenditures that your coworker is paying too? if you're driving a BMW and she's in a Hyundai it'll be quite different ;)

By: Jen

Jen — Tue, 03 Nov 2015 04:37:09 +0000

My used car, paid for in cash 3 years ago, ended up costing me about $540/month…and that is a conservative estimate. Total expenditure divided over the three years I’ve had it.) Coworker drives a new car and payment is $250 (she pays $325). She seems to have a better deal…

By: J. Money

J. Money — Thu, 16 Jan 2014 20:39:48 +0000

In reply to Janine VanLuvan. Agree with you 100%. It's all about doing what works best for YOU. Sometimes (most times) that's buying used, and other times it's new w/ all those great perks like you mentioned. I've never driven a new one off the lot myself, but I know plenty of others who have who are pretty happy out it. So do your thang! :)

By: Janine VanLuvan

Janine VanLuvan — Thu, 16 Jan 2014 15:45:37 +0000

2 year old Honda CRV’s were only 2000 less than brand new and were almost out of warranty on mileage. And carried a higher percentage rate for the loan. With the new car 0% interest 0 miles I also got 5 complimentary oil changes and inspections for life of ownership. Free tire replacement if I run over a nail or have a blow out. Free fixing of dings if someone dings my car in the parkinglot for 1 year. Free key replacement. I intend to drive the car until it actually dies which is the only reason I bought brand new. I also am paying it off in 8 months. It is not stupid to buy a new car in 100% of cases. It is however stupid for SOME people to buy a new car I would agree. Depreciation only matters if I intended to sell it as soon as I drove it off the lot or 30 days later, which is not the case so therfore irrelevant. The last used car I had was 2 years old. Car fax was clean but after an incident where my daughter bumped into farm equipment while reversing the person I hired to fix it told me it was rearended and showed me the evidence. Which explained the thousands and thousands of dollars I poured into it over 6 years. And the gas mileage I was robbed of due to engine problems that were covered up that the first 4 mechanics didnt realize. I could have had a new car. Not to mention what my daughter went through with the used car she bought. Ill never buy used again. My opinion of course. I already know you all disagree and that is ok. You are right for you. There is no firm right or wrong here. Its purely circumstance and certainly I have emotional bagage haha

By: J. Money

J. Money — Tue, 11 Sep 2012 20:29:03 +0000

Thanks again for hooking us up on this, Jason – glad it got some good convos going :) It caught my attention too when I first read the title! Haha… but that’s what we need to stay motivated right? Some good ol’ fashioned entertainment. Thanks for giving me a break while I was away and answering everyone’s questions/comments – really appreciate it. To pimpin’ old cars!

By: Brad

Brad — Sun, 09 Sep 2012 22:56:19 +0000

My wife and I just got rid of a car. However, we would definitely heed your advice in buying a used car. Feel free to follow our journey as we blog about paying off debt at passingthroughdebt.blogspot.com.

By: FinanceViking

FinanceViking — Sun, 09 Sep 2012 03:22:48 +0000

Great post. Buying a new car is stupid for all non-Ballers. Duly noted.

By: MB @ 12 Year Career

MB @ 12 Year Career — Sat, 08 Sep 2012 23:56:31 +0000

Funny!

NB and I drive a 12 year old Civic with 230,000 miles. And I love it. I learned to drive in this car when it was my parents’ and I will continue to drive it until it falls apart on the road (which nearly happened a few months ago – timing belt broke). NB does all our repairs and maintenance and our 12 month rolling avg auto expenses have never exceeded $25/month.

By: Jessica

Jessica — Sat, 08 Sep 2012 04:18:06 +0000

LOVE THIS.

I’m driving a 2003 Toyota Matrix. I love it. I truly am happy with that car, and have been since the day that I stupidly purchased it brand-new. Hopefully I’m making up for my idiocy in driving it to the ground. It just hit 170,000 miles, and it’s never had a major breakdown. It gets 35 mpg highway, and it takes a 50 mph rear-end collision like a champ. I love the car, because I know it’s not going to hurt me. (Those gigantic plastic bumpers have saved my life twice already!)

I had the windshield repaired today, and was waxing sentimental with the repair technician who commented that it was a great car (I hear this everywhere I go). It’s like having an old dog–knowing its end is nearing, but not knowing exactly when that day will come. I hope to get another 5 years out of it–and then I may just buy another one, just a few years newer.

Side note: When driving an elderly car, use some restraint people. Frequently I see a $500 car with $2,000 wheels and a $1,500 sound system. When I see the inverse wheels-to-car-value ratio, my very first thought is “this person is not saving for his/her retirement.” Oh, and the 1984 minivan with the big spinner wheels…. the wheels did NOT improve the “cool factor” of that vehicle.

By: Edward Antrobus

Edward Antrobus — Thu, 06 Sep 2012 22:59:05 +0000

I’ve never really bought the depreciation argument. Who says that cars loose value? Despite what KBB may say about the value of my car, to me it’s worth as much as it would take to replace it. I’ve never sold or traded in a car in my life. Only junked them..