Buying a Car
Wednesday, April 7th, 2010Buying a new car has become a symbol of wealth and prosperity. It raises your self-esteem and makes you feel good. Your friends are sure to comment and are envious of your new ride. But the truth is that buying a brand new car is a terrible thing to do.
As soon as you drive that car out of the car lot, that new car is going to plummet in value. Before you know it you will owe more on the car than the vehicle is actually worth. Then you will most likely have to sell the car and by a cheaper, used car, which is what you should have done in the first place.
The thing that I would say is worse than buying a new car is leasing a car. This is probably the absolute worst way to finance a vehicle. When you lease a car you are pretty much renting it. So after all the money you spent renting it, if you want to buy the car you have to pay for all of it to. The best thing to do is just buy a used car with some age on it.