Before my wife and I got married, I explained to her a few principles that I live by, and firmly believe has saved me countless thousands of dollars. That principle was backed up today in a MSN money article about things that you should never buy brand new. I had told my wife that unless we hit the lotto I would never ever buy a brand new car. I would only buy newer model cars that were at least one year old. The simple reason was the price differential, to this day I buy used. Many people consider their cars a status symbol and have to buy new. For me it is transportation plain and simple. I have saved countless thousands of dollars by just waiting and being patient. The wife drives a mini van which is less than 3 years old and cost me less than 11,000 I drive a 4 year old Volvo that she bought on a lot for less than $4500.00 both of these vehicles where well below blue book. Sure I had to put some tires on them but a $400.00 set of tires is cheaper than a $400.00 a month car payment.
In the MSN article list 9 other things that you should never buy new and I am glad to see that other people out their share the same thought process. [MSN]
Comments (2)
You're so right. My present car costed less then $4000 and was 8 years old at the time with 140k mls behind it. 4,5 years and 44K later it only set my back about $1700 in repairs and maintenance.
So if the car would go up in thin air here and now, we're talking $125 a month, or 13 cents a mile. In Europe, that is cheap for a 16ft (or 190 inch) long stationcar. And it's still running.
For the record, it's an Opel Omega, Opel being a GM brand sold in Europe (I believe they (have) sold them as Chevrolets in the US).
New cars is for companies and those with too much money or too little economic sense. Plus when a model has been used for at least a year, reports of initially unknown pros and cons become available.
And I like cheesy old Japanese cars from the 80's :)
Posted by Erwin Blonk![[TypeKey Profile Page]](http://www.geeknewscentral.com/nav-commenters.gif)
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October 19, 2005 5:41 AM
Posted on October 19, 2005 05:41
Todd,
I agree 100%. It feels so good not to have to write a check every month for new car payments. My wife and I have 2 cars and we paid for both with cash. It was hard at the time but now we are styling!! My biggest cash problem is TECHNOLOGY!! Cant live without it...
ET
www.almostageek.com
Posted by ainanet![[TypeKey Profile Page]](http://www.geeknewscentral.com/nav-commenters.gif)
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October 21, 2005 10:21 PM
Posted on October 21, 2005 22:21