Why You Should NEVER Buy a Brand New Car

Why You Should NEVER Buy a Brand New Car

Can you tell me why you should never buy a
brand new car? All I hear is that it is a bad idea. If you buy a used car, someone else pays the
depreciation. What exactly does that mean? When you drive the car off the lot, it loses
10% of its value. At the end of the first year, it is worth twenty to thirty percent
less. Duh. I’ve been driving it. Unless you are a road warrior, the car is
losing value faster than the value lost due to wear and tear. Buying a used car lets you
get something for a fraction of the cost of new. For a lesser fraction of the value lost from
wear and tear. But I don’t want to buy a used car that is about to fall apart. Modern cars are made with a hundred thousand
mile life. If you buy a vehicle with only 10K or 20K miles, it could have a decade of
life left. All the used cars I see are beat up hoopties. There are people who’ve bought into the cachet
of the luxury of having a new car every year or two. You can get barely used cars from
the lease dealership. I heard that car leasing was a fleecing, or
some similar line. They sell the one and two year old cars as
well as rent them, which is what leasing is. You can buy their barely driven cars. Used car salesmen are the epitome of hucksters,
tricksters and other insults. The used car lots advertising no cash down
or we sell to anyone are rip-offs, and those who offer car title loans are selling the
cars they repossessed. But new car dealers often have gently used trade ins, and they
won’t rip you off. If I get a one or two year old car, I still
have to keep it maintained. You’d be surprised how many of those used
cars are under the original warranty or eligible for a warranty from the new used car seller. This does sound like a better deal than I’d
get inheriting Grandma’s car.

About the Author: Michael Flood


  1. A 4 and a half year old video will most certainly be the most accurate information where everything is changing extremely quickly.

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