Is it pointless to new car finance?

Sunday, February 8th, 2009 at 22:30

Kenny asked:

I've heard when you buy a brand new car it depreciates the second you drive it off the lot... but if it has a good warranty it wouldn't be something to worry about if something went wrong with it right? Cialis Online Whats your take on this? Would it be better to finance a used vehicle?

Reply:

New cars are not necessarily the "best" deal. Most do depreciate rapidly, some as much as 40-50% in the first 12-18 months. Remember, you'll always "trade" years and miles for money...so if you can buy a car someone else has already "driven" the depreciation out of you'll be better off financially. Keep in mind that you will have maintenance and repairs on whatever you buy, new or used, so that may be the determining factor in your decision. Try and calculate the "total driving cost"--what it will actually cost you per month to buy, insure, fill up, and maintain the vehicle and make your decision based on that. Like I told my children (and I'm a car dealer), never fall in love with rubber, oil, and metal.

Finance your car here onsite if you need help buying one of these beauties :)