Not sure if I want to buy a new car, or a used one.
New Grad SWE kid. Looking to buy my first car. Budget is around 35k, I got this number after factoring my tc, taxes (Cali), maximized Roth 401k, and rent. It’s on the safer side. I used the 20/4/10 rule. Everyone I have talked to, advices against buying a new car since they depreciate so fast. I don’t like Korean/Japanese cars. I have two options: 1) I buy a used Mercedes GLA/CLA/C (always been a fan, and my dad had mostly Mercedes), a Mustang/Challenger (I have always liked muscle cars), with around 2.0 L engine to save on gas, = 2018. 2) Buy a new car, but look elsewhere or go for fewer extra features like navigator, sound system, etc. I want my car to be enjoyable to drive, look good, comfy, and to not have high maintenance costs. It’s a case of my wants going against my other wants/needs. I have no students loans. I can save up money all for myself. I also want to start working on developing another source of revenue outside my job, so it will require some financial investments from me. Of course, I am also going to invest. Everyone advices against buying a new car, but when do you know that you can buy a new car, and it won’t be a dumb Funchal decision? Should my net worth be above a certain number, so I could afford a new car? TC: 175k, 135k cash YOE: < 1 #personalfinance #investments #cars
Always used. Let someone else pay for the initial depreciation hit
Get a car with apple or Google car play. It is much more useful than just a standalone. Nowadays they even had things like wireless car play. It's a huge time saver and the performance is much better than any built in unit by a whole margin. Buy used car. Most used cars under 30k miles seem very new and clean. You don't lose those fast deprecating first few years
You can buy whatever you want dude. Stop being limited by the thoughts of others. You have your budget, so look at what you can get both new and used for that budget and pick what you like best.
Go with what you want. Both used/new cars are overpriced due to supply chain disruptions. If you buy new try to find a dealership away from major city/hub. If you buy used, get it inspected before making an offer, people treat their cars terribly. You don't want to pay for someone else's bad driving habits and lack of maintenance.
The cost savings between buying low mileage used VS new these days is almost negligible. At that price point you should just buy new IMO For certain popular & reliable brands, the traditional advice is flipped on its head. You gain 20% value driving it off the lot 🤣
Cars are a depreciating asset. Either buy used something really cheap that will last for years or lease.
get a cpo car.. you get those fancy germans brands within your budget then
Wow. I can’t believe people are out of touch in this thread. In this supply-chain limited market, used cars are appreciating not depreciating. Suggest getting a lease on a new Mercedes. Or buy new. These are unprecedented times for new car buyers.
I think you mean depreciate. Or maybe defecate.
Get a Subaru. It’s Japanese but it will check all the boxes for you and not be a bad choice financially.