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When is it deemed alright to buy a brand new vehicle?
Posted on 7/2/20 at 5:27 pm
Posted on 7/2/20 at 5:27 pm
Sure, be able to pay for it in cash, continue contributing significant percentage to investments and have plenty after for emergency
But it seems some people say that even if you are able to pay for it in cash maybe you still shouldn't buy a brand new vehicle unless you are like a millionaire or something? eta. due to the depreciating value being a less significant percentage of your net worth
But it seems some people say that even if you are able to pay for it in cash maybe you still shouldn't buy a brand new vehicle unless you are like a millionaire or something? eta. due to the depreciating value being a less significant percentage of your net worth
This post was edited on 7/2/20 at 5:29 pm
14
Posted on 7/2/20 at 5:34 pm to DVinBR
what?
Posted on 7/2/20 at 5:40 pm to DVinBR
Rates are low. To me, its not worth paying in cash for a new vehicle when considering how that money can be used elsewhere (growing)
If you are so against buying a new vehicle then sure, spend less than 10K and get a beater.
Also, what do you value? That is the real question. Plenty of people that are against "new" cars waste money on other things.
As long as you have a plan that involves saving properly, a new vehicle can fit into that picture. Just be smart to stay within your plan and means.
If you are so against buying a new vehicle then sure, spend less than 10K and get a beater.
Also, what do you value? That is the real question. Plenty of people that are against "new" cars waste money on other things.
As long as you have a plan that involves saving properly, a new vehicle can fit into that picture. Just be smart to stay within your plan and means.
This post was edited on 7/2/20 at 5:41 pm
Posted on 7/2/20 at 5:41 pm to DVinBR
To me, whenever you can afford it, but I keep new vehicles at least 10 years, so to me it's about how long you keep it as to whether you should buy it new.
Posted on 7/2/20 at 5:48 pm to DVinBR
If you gotta ask, buy used. I buy new so others can have used in 10+ yrs.
Posted on 7/2/20 at 6:53 pm to DVinBR
Like others said no issue buying new if you keep it 10 years. Cars have higher depreciation in early years so if you want to buy something gently used you will prob come out ahead in the long run bc you won’t pay the markup. As long as you are adequately saving for retirement go ahead and splurge on new if that’s your thing.
Posted on 7/2/20 at 7:06 pm to DVinBR
Just bought a new Palisade today.
Picking it up on the 4th
So to answer your question, now.
Picking it up on the 4th
So to answer your question, now.
Posted on 7/2/20 at 8:02 pm to Chad504boy
quote:that's how you enrich other people instead of yourself
Live life. Drive rich.
Posted on 7/3/20 at 11:15 am to DVinBR
When you are ready and willing to enjoy life to the fullest rather than penny pinching to hoard money you maight never live long enough to spend.
Posted on 7/3/20 at 11:37 am to castorinho
quote:
Just bought a new Palisade today.
My stepdaughter has one and I love it!
Posted on 7/3/20 at 12:27 pm to DVinBR
quote:On any day that ends in "Y".
When is it deemed alright to buy a brand new vehicle?
Posted on 7/3/20 at 12:44 pm to DVinBR
I just got a Buick Enclave for my wife. By buying used I got it at least $9K cheaper than new and it only had 11K miles on it. I buy used with under 30K miles, but you do you. Most of the pay cash mentality is the psychological impact.
Posted on 7/3/20 at 1:47 pm to DVinBR
I've been debating buying a new truck too. 35K+ttl+interest, thats $40K.
Not buying it, I can sit on 50K cash.
That $40K truck in 5yrs might fetch $15K.
Not buying it, I can sit on 50K cash.
That $40K truck in 5yrs might fetch $15K.
Posted on 7/3/20 at 1:54 pm to DVinBR
Used vehicles now are almost the same cost as a new vehicle. If I'm not running a vehicle into the ground I'm buying new, who cares about depreciation after the fact when you plan on owning it 5+ years.
Posted on 7/3/20 at 2:16 pm to tduecen
quote:
Used vehicles now are almost the same cost as a new vehicle.
Maybe if you shopping 2 year Subarus. I bought my wife a 3 year old Lexus RX350 with 44k miles on it (a lease turn it to a dealer). It listed for $55k new and I got it for $30k (45% off new) and it's still in warranty. Then she refused to drive it (it could get a door ding at work)!
Posted on 7/3/20 at 2:54 pm to arcalades
quote:
quote:
Live life. Drive rich.
that's how you enrich other people instead of yourself
What can I say? I'm a giver.
Posted on 7/3/20 at 2:55 pm to RedlandsTiger
Congrats on a 3 year old vehicle with 2 years of warranty left....
Posted on 7/3/20 at 5:59 pm to RedlandsTiger
quote:
Maybe if you shopping 2 year Subarus. I bought my wife a 3 year old Lexus RX350 with 44k miles on it (a lease turn it to a dealer). It listed for $55k new and I got it for $30k (45% off new) and it's still in warranty. Then she refused to drive it (it could get a door ding at work)!
Last year I bougt a 3 year old lease return Tundra with 38K miles for $27K, best deal I could get on a new one was $38K. I can afford to buy most any new vechile I want , but cant bring myself to spend momey on things that make no difference in my day to day life.
Posted on 7/3/20 at 7:08 pm to DVinBR
Just purchased 2018 BMW for 24k with 22K miles. CPO warranty until 1/24. Sticker new 42K
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