Why You Should Not Buy New Car?

Why You Should Not Buy New Car?

Faster Depreciation and Negative Equity

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.

Why is buying a new car 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.

Photo in the article by “Flickr” https://www.flickr.com/photos/91591049@N00/29303470321