LogFAQs > #923655704

I mean, part of it is also that you can get really good cars, used for WAY less as well. I don't get why people buy 20-30k new cars, instead of buying a 2-3k car....even if it breaks down or needs repairs, you would need to at worst buy another 2-3k car, and STILL end up spending way less, with no interest etc.

Buying a 30k+ car with 7% interest is crazy...seriously, that is throwing away a few K a year in interest easily.

Cars are NOT a good place to invest money, at all, the depreciate waaaay too fast. There is no need for a new one, even if your commuting every day.

If you are, but a fairly cheap car when new (20k or so), that is 4-5 years old, and you'll get it for well under 10k. In addition, it will not loose its value that fast anymore. That will get you a nice, fairly new comfortable car to commute in and even if your adding 100 miles a day to it (36k miles a year), you can still sell it/trade it in after a few years for fairly close to the initial value (and then do the same thing again).

If you got the money and want comfort, go for something like a 2011 toyota avalon, it's got good gas milage and very comfy and you can get them with very low miles for about 10k. Doing so means in 2 years you could resell it for the price normal miles go for (9k or so), and be out $1000 over 2 years, with extreme comfort, a great car, good gas mileage and that is if your driving a ton every day.

If you don't commute much, I'd go for a much cheaper car over all, something like a 2009 saturn, which you can get with low miles for under 4k. Even piling on the miles on those, will still net you almost the same price (within $500) in general, so you lose almost nothing long term, and can keep rotating them every 3 years or so (if your driving 30k miles a year, you don't wanna go over 200k miles and still get a decent amount...try and buy one with 60k or less miles, and sell it before it hits 150k).

Those cars are fine, with no problems, low miles and WAY cheaper. Buying a new car is almost the same as throwing money away in my opinion.
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