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Major Nikon

(36,925 posts)

44. It doesn't necessarily have to be 0%

Mon Jun 27, 2016, 07:22 PM

Jun 2016

Right now the rates for secured loans is excellent. I financed my last vehicle at 1.75% through my credit union. The US stock market has been averaging better than 7% for the last 10 years. If I had pulled the money out of an investment account to pay cash for the vehicle, I would almost certainly lose money.

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As long as you can afford it, do you prefer to buy new when you buy a car? [View all] Tobin S. Jun 2016 OP

We've been buying new for a while now. CaliforniaPeggy Jun 2016 #1

It's definitely cool to have a new car. Tobin S. Jun 2016 #2

I think you have your priorities straight. CaliforniaPeggy Jun 2016 #3

Do what my parents do, then. Chan790 Jun 2016 #7

I've heard good things about doing this NewJeffCT Jun 2016 #22

Still live in Central CT? Chan790 Jun 2016 #25

Thanks NewJeffCT Jun 2016 #32

used at a dealership Kali Jun 2016 #4

Since I can't fix cars, I buy new TexasBushwhacker Jun 2016 #5

Used. Only Ever. And here's why; underahedgerow Jun 2016 #6

Cars almost always decrease in value regardless of whether you finance them or not Major Nikon Jun 2016 #14

Financing a car is nearly always a terrible idea, unless you can do 0% for the full term. Xithras Jun 2016 #43

It doesn't necessarily have to be 0% Major Nikon Jun 2016 #44

thinking your preferences reflect objective truth is a bad way of thinking. Taitertots Jun 2016 #27

My current--and previous two cars--are BMW's that I bought when they were 2 years old mnhtnbb Jun 2016 #8

This. MissB Jun 2016 #9

My oldest learned to drive on my BMW convertible--manual transmission--and to this day mnhtnbb Jun 2016 #37

Unless I'm some lottery winner, I'm never buying new again nt MrScorpio Jun 2016 #10

Yeah, if I could afford it, I'd buy new... Wounded Bear Jun 2016 #11

Depends on your definition of "afford." noamnety Jun 2016 #12

Use whatever definition you wish. I left that open to whatever people's conceptions are of that. Tobin S. Jun 2016 #30

I liked the 'certified' program that many car makers have! LynneSin Jun 2016 #13

We bought used for years and so much in repair $$ nadine_mn Jun 2016 #15

Our last new vehicle was in 1998 Windstar van benld74 Jun 2016 #16

I will very likely buy my next car new for cash OriginalGeek Jun 2016 #17

I bought a new car once when I was young and cocky. I won't do that again. hunter Jun 2016 #18

I cannot tell you how many times in the last few months someone has almost backed into me mnhtnbb Jun 2016 #19

No, why take the depreciation hit? haele Jun 2016 #20

We bought a car from Hertz--out of their 'retired' rental car fleet mnhtnbb Jun 2016 #21

When I was in the car business we used to buy from Enterprise for our used car lot. Hassin Bin Sober Jun 2016 #35

There you go! mnhtnbb Jun 2016 #36

Used. My Good Babushka Jun 2016 #23

New mainstreetonce Jun 2016 #24

Do I buy a new car-or used?! Definately a 1st world question. And my guess is that MOST of us here jonno99 Jun 2016 #26

What's your point? Tobin S. Jun 2016 #31

I usually buy a year old leased car. trof Jun 2016 #28

i have an 05 caravan too shanti Jun 2016 #40

'08 Prius is our other car. I love it. trof Jun 2016 #42

I like to buy new Generic Brad Jun 2016 #29

i prefer older vehicles John_Doe80004 Jun 2016 #33

Mildly used. Laffy Kat Jun 2016 #34

lifelong beater driver, but mopinko Jun 2016 #38

Bought new once blaze Jun 2016 #39

I prefer NEVER to have to buy a car again! elleng Jun 2016 #41

I've done both AwakeAtLast Jun 2016 #45

Never have; never will. It loses half its value the second you drive it off the lot Recursion Jun 2016 #46