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“Should I buy a new car?”
If you asked almost every personal finance pundit that question, they’ll give you a bunch of reasons why you should buy used instead.
Our founder, personal finance expert Ramit Sethidisagrees.
Used cars can be a good way to go. But to apply a broad rule that “used is the best” is short-sighted. In fact, Ramit thinks there are many more reasons why people should buy a new car than used.
Should I buy a new car or used car in the long run?
It will depend on the type of car you buy, and the condition you buy it in. That said, if you’re going to buy a decent make that’s in really good shape, you might land yourself a bargain.
However, here’s the rub. Do you know enough about cars to know whether you’re buying a hole in your pocket? Even if it’s a good make, you can’t be sure that the previous owner didn’t do donuts in the Best Buy parking lot after dark.
In the long run, a new car might end up costing less because there’s less to fix. All car parts have a life span and eventually, you’re going to look at replacing things. Expensive things.
A great way to pay for these expenses is with a side hustle or your own business. Earnable gives you all the exact strategies, frameworks, hands-on tactics, real-world examples, mindsets, done-for-you templates, word-for-word scripts, and hard-won breakthroughs to start and grow your own business. Click here to learn more.
Is Buying a New Car Worth It
New cars get a bad rap from financial pundits because the assumption is that you’re going to spend your money on something you can’t afford, doesn’t make sense, and worse, is over the top.
If you’re going to do that, you might end up resenting the purchase. Even worse, it might land you in financial trouble.
A new car is cheaper when it costs you less in installments and maintenance than a second-hand car. But it’s not just about the actual money spent. It’s…
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