New cars are such a ripoff

[Louisville Slugz]

 

[winb83]

One thing Dave Ramsey is right about is if you don't have a very high net worth you shouldn't be buying new cars. The hit people are taking on their net worth isn't worth it when that depreciation could be invested and grown.

 

[The Realist Perspective]

I'll never not buy a new car. The peace of mind is like no other. I've been there. I've drove absolute beaters. It was the WOAT when you have to be somewhere but your car says otherwise.

 

[SadimirPutin]

If you maintain your car and service it at the recommended intervals you can drive them shyts forever

 

[Ezekiel 25:17]

www.carfax.com/blog/car-depreciation/
If something loses 10% of its value just by you owning and using it once it was never worth the asking price to begin with.

I'm not sure I'll ever buy a brand new car in the face of that.

That's how almost everything is in general though. Your smartphone, stove, tv, etc. All lose value.

If I can afford a new car, I'm buying a new car.

 

[ColdSlither]

I'm only getting a new one because my 02 Civic is too damn small for me. It was small for me when I got it. Had I gotten a CR-V back then I probably wouldn't even be looking hard. I may just end up waiting for when Labor Day rolls around and get a lease.

 

[Sad Bunny]

That's how almost everything is in general though. Your smartphone, stove, tv, etc. All lose value.

If I can afford a new car, I'm buying a new car.

Right. And if you're buying a car to keep for a long time then depreciation doesn't really matter.

 

[CrimsonTider]

Get a low mile 3 year old car and you pay like 30% less. Even if you got a year old one you'd likely save 10-15% minimum. With CPO you can even get manufacturer extended warranty with it for upwards of 6-7 years from the original purchase date.

The first 2-3 years of new car ownership are a terrible value no matter how you look at it. You pay a huge markup to own the car for those years and in terms of value you get almost nothing tangible in return.

If you walked in and wrote a check for the entire car's cost and drove away then you got it like that but if you financed that car you paid interest to own it during the worst return of value in the car's life. You paid interest on the almost 10% that vanished when you drove it away. Even if you didn't and got 0% you still ate that cost.

Depreciation doesn’t matter if you don’t sell the car

you can get a better interest rate on a new car

you can get exactly what you want with a new car

 

[Originalman]

That ain’t just cars. Almost everything loses its value once you buy it. The dealer and the manufacturer have to get their profit.

In normal situations land and homes go up in value. But normally most things do especially mechanical and electronic things. They tank in value after they have been purchased.

 

[Originalman]

OP glad you see the game. Buying these vehicles new is like pouring game on your money and setting it on fire.

 

[Antwon Mitchell]

New cars are only a ripoff when you can't afford it.

I can afford to buy, which I did two years ago purchasing my 2019 Lincoln Navigator





Nikkas on here driving oval shaped vans with the slide in doors, mid 00s model cars, and shyt damn bruhs.

 

[Originalman]

you could buy a used car with lower mileage and do the same thing and save yourself 10k at least.

Yep even if the car is one years old you still save in buying it used than new. I always say let someone else take that depreciation hit for driving a new car off the lot.

 

[winb83]

I'll never not buy a new car. The peace of mind is like no other. I've been there. I've drove absolute beaters. It was the WOAT when you have to be somewhere but your car says otherwise.

The car you're driving right now is a used car. Do you not have piece of mind over it? It was new, someone (you) bought it and used it so now it is no longer new. Are you suggesting you don't trust the manufacturers of cars to make a stable product?

I totally get making poor financial decisions. What I don't get is the mental gymnastics people go through to try and make those bad decisions sound like good ones.

The piece of mind you speak of in a figment of your imagination. The truth is you can get a 3 year old car turned in off a lease, low miles, regularly taken to a dealership with provable service records documented and you can get the car inspected before purchase. The mechanical difference between that car and a new car you buy at the same point of their lives that came off the same assembly line is negligible. Also @ CPO you'd get a manufactures warranty for 3 years after purchase.

Let's say this car is a 2020 Honda Accord. You avoid $6000 in depreciation charges. If you invest that $6000 for 30 years at 8% average return, you never touch it again or add to it and it site at the end of 30 years that $6000 in avoided depreciation is $60K. That's enough to buy 2 brand new Honda Accords when you're ready to retire. Do that 3 times in your life at 10 year intervals and that's an extra $101K you can retire with and all you had to do with duck $18K in depreciation cost.

Buy your peace of mind is worth the opportunity cost of turning that $18K in depreciation into $100K of money right?

 

[levitate]

The car you're driving right now is a used car. Do you not have piece of mind over it? It was new, someone (you) bought it and used it so now it is no longer new. Are you suggesting you don't trust the manufacturers of cars to make a stable product?

You don’t know how the previous owner drove and maintained it number 1.
Number 2, I’m not trying to sit in someone else’s boogers, farts, blood, sweat and cum. shyt all in the crevices of the car, you not cleaning all that out.
I need my shyt new if at all possible.

 

[Bumblebreh]

New cars are only a ripoff when you can't afford it.

I can afford to buy, which I did two years ago purchasing my 2019 Lincoln Navigator





Nikkas on here driving oval shaped vans with the slide in doors, mid 00s model cars, and shyt damn bruhs.

could have copped a lexus truck