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/biz/ - Business & Finance

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1117948 No.1117948 [Reply] [Original]

Is buying a new car ever a fiscally responsible decision?

>> No.1117951

If you want new you should lease. If you buy it should be used.

That was easy.

(there are exceptions but they're rare. Like buying the new NSX and bubble wrapping it for 20 years)

>> No.1117952

>>1117948
no unless it's a laferrari or a 918 or something. Just get a slightly used one (1 year old)

>> No.1118202

>>1117948
no. buy 1 or 2 years used, one owner, no physica damage obviously if you want whats essentially a new car for more than half the price.

the moment you drive a brand new car off a car lot its value is cut in half.

>> No.1118207

>>1117948
Yes, buy a ford.

>> No.1118217

>>1117951
Why lease new? I'm in the market for a car and was going to just buy it upfront over financing because I have no real credit. Should I lease to build up my credit? What other reasons to lease?

>> No.1118224

>>1118217

Lease if you're into getting a new car every 2 or 3 years. Payment will be less and you will never not be under warranty. If you buy it will just depreciate immediately and you'll be stuck with it for the remainder of the loan. If you buy, buy used so that the depreciation is built in to the price.

>> No.1118225

>>1117948
>Is buying a new car ever a fiscally responsible decision?
No, but it doesn't have to be fiscally IRresponsible either. Besides, not every decision in your life needs to be fiscally optimal, and you're allowed to enjoy life from time to time.

>> No.1118274

>ITT terrible advise.
>Used cars have higher interest rates off the bat.
>If you buy a 1-2 year old car you WILL pay more a month than if you bought a brand new model.
>Leasing is like renting an apartment. You will end up without an asset, thus you are burning money.
>If you want to be as cheap and financially shrewed as possible then buy a $5k beater and only replace it when it costs more than half the cost to repair.
>The value of luxury cars plummet when taken off the lot. Buying an accord, corolla, Camry, or even some pickups will only depressiate at most $1k a year. If you buy a high demand car, dealers will offer to buy the car from you a year or two later at about 2k less than you paid. >They do this for the short sighted sheep who can't do math. While they are paying 4k less for the car, they are paying significantly more a month because of the interest rate.

Tldr; don't buy a luxury car. Don't lease. Buy a beater for under $5k.

>> No.1118282

>>1118225
Buying something that depreciates 25% as soon as it leaves the sellers premise, is probably riddled with modern tech problems, now tracks everywhere you go, will have multiple recalls and many other short comings, is no way to "enjoy" life.

>> No.1118286

>>1118224
Solid advice man, thank you.