It is not all fun and games when it comes to buying a car. It is a serious investment that could have serious repercussions in the future. This is why it is important to understand what you are getting yourself into. In this video, you will learn why new cars may be more trouble than they are worth.
Before visiting your automotive dealer, there are a few things you should know about new cars. First, they lose between 60% and 70% of their value in the first four years that you own them.
This makes them a terrible investment. However, if you have the money to burn, go for it if that is what you really want. Second, new cars have not had enough time to be thoroughly road tested by actual drivers. There may be recalls or other issues that arise. Further, fancy new cars often tempt people into purchasing a car that they can not afford. This may cause them to miss their car payments and land further and further in debt. This can make that new car exponentially more expensive than it should be. Instead of succumbing to these pitfalls, consider buying a four year old used car instead. If it has good ratings and a good history, this car will save you a lot of money and headache.