Talk me out of buying a new car in 300 words or less

Name: Sammy K
Email: s*********45@hotmail.com
Date: April 1st, 2024 11:46 PM
Message: Hey Dave, the wife and I are going back and forth about needing a new car vs wanting a new car. I found this site and figured I'd let whoever writes it decide for us. Talk me out of buying a new car in 300 words or less!

Sammy,

Don't you realize that regardless of what my answer is, you should definitely go with her answer because happy wife happy life isn't just a cliche lol.

Anyway, I can sum this up in that amount of words easily. I'm not sure if you meant a NEW car or a new car, so i'll assume you meant a NEW (0 miles) car. Regardless of what you're replacing, and I'm assuming that's the case, and assuming its not broken down sitting in a garage needing $5,000 worth of repairs at the time of this email, it's still a better financial decision to spend a little money on your current car and slap a warranty on it, than it is to buy a new car.

Your old car has likely stopped, or at least slowed down tremendously, depreciating. Hell you may not even have a note on it and if its paid off you can roll the dice and get liability insurance on it, saving even more money. The new car is going to be ridiculously expensive for starters. Sure it won't break down but it will start depreciating immediately, and it will be a sharp depreciation out the box. If you finance it you'll only be paying one new car note on an actual new car. The next 47 or 59 (or however many) will be a new car note on a USED car. Think about it!

If you have anymore details on your current car or what you want to buy, email me back and I'll update this Q&A!

Let me know if this helps and thanks for contacting us!

Dave Roppolo