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Well, certain cars, such as the challenger hellcat, ought to go up in value over time especially if you don't drive the hellcat out of it. The early Veyron was a great investment. They sold for about a million and are fetching 2 million easy.
Me personally, after buying 2 brand new cars, will never buy another new car unless it is something that may go up in value, or if it is a very specific car that I plan to keep forever. I am going back to old cars.
Although it may not make sense to the OP to buy a new car, which is perfectly fine, it doesn't mean everyone has the same priorities or sensibilities to the topics the OP uses to make his case.
Therefore, the short answer is, some people think it DOES make sense to buy new.
The beauty is that this is all just personal preference and there is no WRONG answer or choice.
Gee, what a unique question, OP! Thank you so much for bringing this subject to our attention! It's hard to believe that no one has ever wondered why people buy new cars or questioned the reasoning for doing so. It's not as if there have been numerous similar questions on this forum over the past few days, weeks, months and years, asking the very same thing.
Gee, what a unique question, OP! Thank you so much for bringing this subject to our attention! It's hard to believe that no one has ever wondered why people buy new cars or questioned the reasoning for doing so. It's not as if there have been numerous similar questions on this forum over the past few days, weeks, months and years, asking the very same thing.
Oh wait....
What's next?
Should we have a thread asking...How many angels can dance on the head of a pin?
or, perhaps...How high is up?
To return to the original question however, my response is... If I can well afford to buy a new car every 8 or 9 years, and if it makes me happy to do so, why shouldn't I do it?
Or, am I supposed to adhere to the OP's values system in order to make him happy?
As was already mentioned, the OP wouldn't be able to buy any used cars if not for people like me who buy new cars and then maintain them flawlessly, so his question makes very little sense to me--on any level.
I bought a Subaru with 40,000 miles on it recently. I love it. But if I ever become financially comfortable enough, I will likely buy a new car.
I like the idea of being able to choose all the options. I like the idea of knowing its entire history.
That's pretty much it. I really like my "new to me" subaru, but I've mostly had used cars all my life. The one that I got new was a stripped down model where the only "extras" were automatic transmission and air conditioning. That was over a decade ago and the only reason I don't still have it is because some lady pancaked it with her Yukon just after it hit 130K miles a few years ago.
Not at all. A CPO accord does not offer the same functionality as a CPO 5 series. Not in the same context that a CPO 5 series offers the same functionality as a brand new 5 series. The former are two completely different cars, while the latter are identical.
I prefer having on-hand liquidity and greater control over my own retirement planning. (also my employer doesn't match my contribution)
I would have came out around $70 ahead each month for 48 months by financing and investing the lump sum ($24,000) in my personal investment account. I found more comfort in owning the car outright rather than saving $3000 over 4 years.
Had I invested $24,000 of my savings, it would have grown to $32,000 in 4 years given my target growth on my personal account of 8% annually (of course this is not guaranteed, especially since we are on the verge of another stock market crash)
Financing the car at 1.9% at the non-discounted cost of $28,000, I would have made $29,000 in payments in 4 years. It just wasn't worth it. Some people peg the smell of a new car and the feeling of being the first to take their driver's seat flatulence virginity at 10,20,30 thousand dollars. Likewise, I peg the feeling of not owing money on such a minor asset to be worth losing $3000.
An accord does provide the same functionality as a 5 series. It's a form of transportation and I'd say the accord would be a more reliable form. Outside of its main functionality you are talking about amenities which again comes down to wants over needs at the cost. When you are barking about people about cost yo are being a hypocrite here
You prefer liquidity but paid cash for your 5 series? Again doesn't make sense
Who do you work for as a financial advisor serving high net worth clients that doesn't match in your 401k? Clearly not a major wirehouse
I saved my pennies and paid cash for a brand-new car in 2012. I could have financed it, but I liked the idea of going home with the title in my hand. To be honest, one of the big reasons I bought new was novelty; I wanted at least one brand-new car in my life, and since I was in a position to do it, I went for it. I don't regret buying new, but the novelty has worn off and my next cars will be used.
I saved my pennies and paid cash for a brand-new car in 2012. I could have financed it, but I liked the idea of going home with the title in my hand. To be honest, one of the big reasons I bought new was novelty; I wanted at least one brand-new car in my life, and since I was in a position to do it, I went for it. I don't regret buying new, but the novelty has worn off and my next cars will be used.
I have never owned a new car, and it's something I think I want to try to do before I croak. I'm not desperate to own a new car, but it would just be nice to do that someday.
Right now I have a 2010, which I bought two years ago, and that was one of the newest cars I've ever owned. I've been a lifelong commuter, and it just never seemed worth it to me to have a $300 a month car payment on a vehicle that's going to sit in a train station parking lot all day, on top of a $300 a month train ticket.
Sometimes interest rates are really good and the payment is well within reason for a buyer. Also, if you are an older person a new car provides peace of mind. I always buy used, but I know cars really well and just don't like the first two years of depreciation. It is all about money for me. I sometimes travel 1000 miles for a certain car, but will keep it for 10 years.
gee, what a unique question, op! Thank you so much for bringing this subject to our attention! It's hard to believe that no one has ever wondered why people buy new cars or questioned the reasoning for doing so. It's not as if there have been numerous similar questions on this forum over the past few days, weeks, months and years, asking the very same thing.
Oh wait....
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