View Single Post
  #4  
Old 09-03-2007, 08:31 PM
wtf6192002 wtf6192002 is offline
Senior Member
 
Join Date: Aug 2007
Posts: 107
Default Re: Buying a Used car with cash

[ QUOTE ]
One thing for sure, you are very smart for buying used.

Anyone buying new that is on any kind of budget is throwing money away bigtime.

NEW cars depreciate 20-40% the minute you drive them off the lot and therefore buying new is one of the worst financial decisions anyone can make in their lifetimes.

[/ QUOTE ]

I want to throw up when I hear someone say this.

Ignorant people who know nothing about cars or money make comments like this.

If you buy new your car will be under warrenty for 4-5 years and 50K-100K miles depending on make and model. If you add the price of repairs in with your monthly payments then many times you are actually paying more for a used car. Slightly used is ok, but if you can afford it you will be better served to get something new.

ARE U GOING TO SELL your car 5 mins after driving it off the lot?

There is one major problem with buying used cars. You normally still have to finance the car over a 5 year period. By the time you get to year 3-4 your car is pretty old and will start breaking on you. You will not be able to sell it because you will be under-water on your loan and you will be stuck with the thing.

USED CARS ARE OK IF YOU CANT GET A NEW ONE. If you can afford a new one take advantage of the great deals available in respects to financing and rebates. You will have a good car with a great warrenty that no one else has messed with.
Reply With Quote