BoberFett
Lifer
Car snobs, gotta love 'em.
Buying a brand new cheap car for the same price as a fancier used one can make a lot of sense depending on the buyer. Purchasing a new car can often get you interest rates of 1.9% or lower whereas used you're probably looking at 9.9% and up. If someone is trying to buy as cheaply as possible chances are they don't have $12K sitting in their pocket and they're going to make payments. On a 60 mo. $10K loan, that's a $2400 difference over the life of the loan.
For my wife, we might just get her a new vehicle every few years so she always has a warranty on what should be a reliable car and roadside assistance. When the transmission on the PT Cruiser took a dump a couple weeks ago, I realized we were lucky I was driving at the time. She's kind of a nervous driver to begin with and I don't know what she would have done if suddenly the tranny gave out in the middle of the freeway.
Buying a brand new cheap car for the same price as a fancier used one can make a lot of sense depending on the buyer. Purchasing a new car can often get you interest rates of 1.9% or lower whereas used you're probably looking at 9.9% and up. If someone is trying to buy as cheaply as possible chances are they don't have $12K sitting in their pocket and they're going to make payments. On a 60 mo. $10K loan, that's a $2400 difference over the life of the loan.
For my wife, we might just get her a new vehicle every few years so she always has a warranty on what should be a reliable car and roadside assistance. When the transmission on the PT Cruiser took a dump a couple weeks ago, I realized we were lucky I was driving at the time. She's kind of a nervous driver to begin with and I don't know what she would have done if suddenly the tranny gave out in the middle of the freeway.
