Quote:
Originally Posted by Tiki
One of the useful things my dad taught me is to never buy a brand-new car unless you're into throwing away $5000 by driving a block.
That, and the inexplicable habit of trading in the almost-new car for another new car every couple of years, are two American habits I will never understand... it makes no financial sense whatsoever, it's inexplicable! Is it stupidity? Vanity? What is the appeal of purposefully losing money on that scale? Can anyone explain this?
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I agree. I've always said "buy two years old and about 30k miles...it's already depreciated by driving it off the lot, but you didn't eat that money, and any problems have probably already been discovered." Actual words may vary.
I haven't had a car payment since, like, 1995. I will again, soon, as my car has almost had it, but I'm looking at hondas about 2 years old.