Submitted by octotron3000 t3_10p3dhx in personalfinance
anewconvert t1_j6jnfzf wrote
Reply to comment by octotron3000 in I have a financed car and less than 30 days before navy basic training. by octotron3000
Not buying a new car, ever. With few exceptions buying a new car is a waste of money. You eat all the depreciation. If you sold that car tomorrow it will have cost you $7000 + paid interest. Even in this market you could have found a used car for $10k that will run for years with minimal maintenance.
Buy used. Let someone else pay the depreciation. A new car is an unnecessary luxury.
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