Why Buying A New Car Is A Bad Idea?

Why Buying A New Car Is A Bad Idea?

It’s A Horrible Investment.

Buying a new car in general is a bad investment, and just like most bad investments, it’s driven specifically by emotion.

You don’t have enough money to purchase the car outright, so you decide to take out a loan.

Why is it not worth buying a new car?

It’s not fair or right, but new cars depreciate faster than used vehicles. To put it simply, if you buy a brand new car without a down payment, or if your monthly loan payment isn’t high enough to compensate for depreciation, you could end up owing more than the vehicle is worth.

Photo in the article by “Flickr” https://www.flickr.com/photos/autohistorian/32297875886