Four Reasons Why You Should Never, Ever Finance A New Car

[88m3]

@88m3
I got some more questions for your breh. I'm seriously considering REI

Feel free to ask. You can shoot me a pm if you want to. Happy to help out the gods on the coli when I can.

 

[TLR Is Mental Poison]

if was to buy a new car out the gate, i'd drive it for a year, sell it. Whats the most I'd lose out on, a couple thousand? Soft.

but financing fully loaded 'newish' cars are probably the best way to go, all in all.

Leasing

Leasing = paying a guesstimated difference on the car's new value vs the car's used value at the end of the term

Leasing is fine, great actually. Most luxury buyers lease.

Biggest depreciation hit is in the first year so buying a brand new car and selling it a year later is prob the worst financial move.
I dont mind buying used. It's cheaper on a per mile basis for sure if you can deal with maintenance and repairs.

 

[Camile.Bidan]

As a CPA, I feel people misuse the word depreciation. Especially in finance. Depreciation has very specific definition in finance.




used cars are a better value in today's world, and that's really the only bottom line.


I work with people who make 200k+. Most of them drive cammry's, used bimmers, base models audis, inifinties, and accords.

It's always the those wildcats in sales that drive new cars every year.

 

[Sonic Boom of the South]

the logic is pretty dumb
unless you are the nikka who will constantly buy another car after your old one is paid off

but if you know you would never sell that new car once it gets old and know that you will have it for life or till it just dies
then you not only get the full value but more considering sentimental value

the prob is people but NEW cars that they dont even like in the 1st place
so as soon as it is paid off they try to sell it or trade it in
they start all over with another NEW shytty car


my father bought a NEW 1972 Chevy truck
and still has it
to him it is priceless

so basically he made a profit in his eyes

 

[TLR Is Mental Poison]

Most people never pay off their homes, and even the ones that do, do so in 30 years.

People being idiots doesnt make a house a bad investment tho.

If nothing else, home ownership wins because there aren't any better alternatives. But having a paid off property, or even just a property to leverage against, is not a bad look.

 

[Hahahaha]

I was at a Hyundai dealer and couldn't believe people were actually financing a 27K Elantra.

 

[Ricky Church]

I was at a Hyundai dealer and couldn't believe people were actually financing a 27K Elantra.

you fukked up by stepping foot into a Hyundai anything.

 

[Mr210]

Hyundai haha

 

[QuintessentialBM]

I never buy another new car again..... Cars are terrible investments no matter if it's a Ford or Ferrari. All I need is to for it to get me from point A to point B. Trucks are a little more useful than cars, but not worth the price companies are charging today.

 

[Serious]

I really hate the investment talk. Unless you're getting a vintage Ferrari at auction, no one does that.


Now lets talk about the myth of a house being a good investment

lmao You're post is exactly why someone would WANT to lease

@Domingo Halliburton

 

[Domingo Halliburton]

@Domingo Halliburton

well I'd say for most middle class families it's the biggest store of wealth for them. Now 2008 may have scared some people away but it's still holds true

 

[PimpHandStrong]

I was at a Hyundai dealer and couldn't believe people were actually financing a 27K Elantra.

the majority of americans don't have even 10k in savings, the fukk you expect lol

 

[Vandelay]

I'll never buy a new car, something 2-4 years old that is exactly what I want, yes.

Like my 2010 g37s coupe 45k miles I bought a year ago.

 

[88m3]

the majority of americans don't have even 10k in savings, the fukk you expect lol

lol, word

 

[insomniac]

Financed 2010 sonata for six years a couple years ago