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Dave Ramsey's car advice is consistently terrible.
I bought a brand-new Mazda 3 about two years ago for $22,000 and 0% interest. It's currently worth around $15,000 to $16,000 as a trade in.
Perhaps if you're buying a Kia for full sticker and rolling over debt from a previous car his advice makes sense. Otherwise, there are pros and cons to both new and used and it's not always a bad idea to do one or the other, it just depends on your particular situation and needs.
I need a very reliable, fun to drive car, and not have to worry about maintenance at all. I have that for a good price.
I do my own work and can do most tasks with competence. As a result I feel very comfortable buying a used car since I have a good idea what to look for. I am on my fourth used car with out buying a lemon. I am happy with my 2003 Jetta with 80,000 miles on it. I know if it some breaks I can fix it. I have the tools, knowledge, and most importantly tdiclub.com
However, if I didn't know jack about cars I would be very inclined to buy a new car with a warranty.
Now if Audi started selling their A6 Wagon in a diesel and a manual transmission....I might be heading to the dealer.
I looked at the carfax this morning of a 2013 Ford Fusion and it was getting tires replaced every 10k miles. probably some kind of weird problem with that car.
Dave Ramsey's car advice is consistently terrible.
I bought a brand-new Mazda 3 about two years ago for $22,000 and 0% interest. It's currently worth around $15,000 to $16,000 as a trade in.
Perhaps if you're buying a Kia for full sticker and rolling over debt from a previous car his advice makes sense. Otherwise, there are pros and cons to both new and used and it's not always a bad idea to do one or the other, it just depends on your particular situation and needs.
I need a very reliable, fun to drive car, and not have to worry about maintenance at all. I have that for a good price.
Not really.
I don't listen to Ramsey often, but I've heard him talk about this subject several times. Typically his callers are flat broke and deep in debt, and it would be foolish under any circumstances for someone in this situation to buy a brand new car.
But when someone calls in who isn't in this situation, he doesn't really give advice per se. Rather, he makes it very clear that he's answering from the standpoint of what he would do if her were in that person's shoes. Since he doesn't buy new cars even with his deep pockets, obviously he wouldn't do so if he were Joe Average. He's basically saying "If you want to do what I would do, don't buy the new car; but that's just me". I don't see anything wrong with that.
Actually it's okay to buy new if you want to and you can afford it.
Whether or not it's really the best financial move is irrelevant to the question of whether or not it's "OK".
Agreed. There's no need to have to justify it to anyone else, explain it or otherwise. I don't care if you are a billionaire and pay cash or if you eat ramen noodles and don't have cable so that you can afford to make the payments - the bottom line is get what you want and live with your decisions.
People keep saying buy used...i'm willing to buy used ONLY if I get a HUGE discount over the new price. By huge I mean at least 25% off regardless of how "new" it is. Say it is a 2 year old car I am not paying 5% under the price of a new car, I am paying 25-30% off for a car in GREAT condition with ALL service records then it is a good deal to me otherwise why the heck would I take the risk of buying someone else's problem? Who knows how they treated their car?
This is why I bought a new car. 2 years old and I'm only saving 2K? No thanks. Give me new with the longer warranty and lower rate. It all depends on the vehicle.
If EVERYONE did this where do the USED cars come from?
Didn't your mother give you "the talk".
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