motor

79TA · 02-01-2008, 04:12 PM

http://www.autoblog.com/2008/01/31/a...-john-mcelroy/

I don't find it surprising really. Paying interest on a rapidly depreciating commodity is financially insane in most scenarios. Then consider how many great reliable old cars there are and buying new doesn't seem so great. The fleet of used cars only gets better as new becomes old each and every year. I'm not totally opposed to buying new though. I just think that you have be willing to pay the price for that car which you actually want, meaning that it should be a car you really want to have around for at least 6 + years if not life.

For instance, I would love to buy a brand new Mustang GT. However, I don't think dropping out of school to work full time is a very good idea. In the mean time though, there are all sorts of great cars available from 400 - 5000 dollars that are attainable. Then a lack of parking becomes an issue.

graywolf624 · 02-01-2008, 06:45 PM

People were buying these cars that technically couldnt afford them.. Now they really cant since other prices have gone up. Hence lower new car sales.

That being said new cars have benefits:
latest and greatest.
warrenty.
known history.
lemon law.

Ive only bought new twice and someone in my family owns the first one now so Im thinking it was worth it.

Wait until your 5 years out of college, unmarried, unsure of where your going to live so cant buy a house, and have alot of extra cash sitting around. Then see if you buy that gt.