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re: Is buying a $24k car on $50k salary dumb?

Posted on 3/10/15 at 7:35 pm to
Posted by Brightside Bengal
New Metairie
Member since Sep 2007
3904 posts
Posted on 3/10/15 at 7:35 pm to
I thought the prevailing wisdom of the money board was to never buy a brand-new vehicle. Always better to buy a few years old.
Posted by STLhog
Nashville, TN
Member since Jan 2015
17759 posts
Posted on 3/10/15 at 7:45 pm to
quote:

I thought the prevailing wisdom of the money board was to never buy a brand-new vehicle. Always better to buy a few years old.



These days at these rates? I don't see why not.

Especially with the all the add ons and warranties companies are throwing around.
Posted by LSU1018
Baton Rouge
Member since Feb 2007
7269 posts
Posted on 3/10/15 at 7:45 pm to
Buying a new vehicle to drive it for 10+ years could be a good decision. Buying a new vehicle to then buy another new vehicle a couple years later is a bad decision.

I would consider getting a new camry. I know they may not look the best but you can get one under 20k and it will last you forever
Posted by LSUShock
Kansas
Member since Jun 2014
4999 posts
Posted on 3/10/15 at 8:36 pm to
What's the difference of he is spending $24k regardless? I bought new, but my company also foots the bill. Now it's still money out of my pocket, but it's moeny that was designed for a car purchase in the first place. My opinion is if he is going to spend the $24k no matter what, get a new Honda or Ford over a Used BMW or Mercedes.
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