Common advice over the years has been to avoid buying a brand-new car. I know everyone likes that new car smell and the thrill of owning a car with only a few miles on the odometer. There is a premium for the privilege.
They say that a new car loses 20% of its value the moment you drive it off the lot. If you are the "sucker" who buys the new car, you are taking the hit with the depreciation. If you buy a car that's a couple of years old, someone else took the depreciation hit and you should be getting a car that is still in good shape with low mileage at a much better value. The new car smell may be replaced with stale beer farts, but at least you are saving money.
According to this article, now is not the time to buy a used car. Due to some semiconductor chip shortage, the supply of all cars is constrained and therefore prices are higher for new and used cars. What's even more baffling is that for certain models, the used car is somehow more expensive than a brand new car.
On the way to my stretch appointment on Saturday, I just rolled 70,000 on the odometer of my 2010 Mazda 3. One of the best financial decisions I've made is to save up and pay cash for a reliable car. I still have the usual maintenance one has with any car, but I don't have that albatross of a car payment every month.
They say that a new car loses 20% of its value the moment you drive it off the lot. If you are the "sucker" who buys the new car, you are taking the hit with the depreciation. If you buy a car that's a couple of years old, someone else took the depreciation hit and you should be getting a car that is still in good shape with low mileage at a much better value. The new car smell may be replaced with stale beer farts, but at least you are saving money.
According to this article, now is not the time to buy a used car. Due to some semiconductor chip shortage, the supply of all cars is constrained and therefore prices are higher for new and used cars. What's even more baffling is that for certain models, the used car is somehow more expensive than a brand new car.
On the way to my stretch appointment on Saturday, I just rolled 70,000 on the odometer of my 2010 Mazda 3. One of the best financial decisions I've made is to save up and pay cash for a reliable car. I still have the usual maintenance one has with any car, but I don't have that albatross of a car payment every month.
I think for some models, people are unhappy with the newer ones because the manufacturer changes something drastically.
It's kind of like how some people want the older version of tea kettle from like 30 years ago by
BTW we have similar aged cars... though mine has way more miles.
2011