Should I Buy A New or Used Car?



Should I Buy A New or Used Car?

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47 comments

  1. Interesting strategy but you can’t sell the 5k car the same price, doesn’t sound practical to me…

  2. Dave Ramsey has plenty of simple, logical advice, but his car advice is laughable. People have a cost of transportation. Everyone’s is different. Several variables make up that equation and he consistently ignores most of them.

  3. My money goes on travelling, life’s to short not to see the world! Any car will get you from A-B ! Don’t waste your money on cars !!

  4. The best advice i can give out is: learn to drive manual transmission if you haven’t, all the cars I bought the best have always been manual transmission

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  7. I have a 2001 honda civic and I think I'll be saving more by maintaining the car for another 10 years.

  8. I had a Good Boss in high school tell me.. never buy a new car off the lot.. they go down in value after they drive it off the lot.
    Drive used cars and save your money.

  9. If you can buy year end cars for the right price, they do not cost ant more to own and drive than used cars.

  10. I should call in LOL. I'm looking at buying a new 2020 that's msrp was 36k but with dealer incentives and other stuff a 2020 is 25k. So I looked at the same car that's a 2018 and used its around 22k, wouldn't it make sense to get the 2020 new one?

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  12. I just watched the Kevin video one of Kevin’s emergencies fund alternative is borrowing from a friend, or using home lines of credit, credit cards, cashing out retirement fund. Dave has videos on all of these. Oh ya and Kevin spread sheet part opinion two where the person payed off the 5000 dept over a 10 year period. Didn’t mention investing in growth stock mutual fund that out preform the market as Dave teaches so it was a poor analogy on Kevin’s part. Correct me if I’m wrong but I think Ive watched the video thats being referred too.

  13. I've had so many people tell me I need to get a new car. When I asked why they said "so you don't have to worry about maintenance " i told them even doing an oil change is maintenance so unless I'm going to trade the car in every 3000 or 5000 months, that's a waste of money. I would rather buy a car for about 5000 every 3 years than lease and trade in a car every 3 years

  14. Dave is against new cars and encourages buying used but used cars need maintainance on top of the price you payed. A car 2 years old isnt much cheaper than new. You dont know what it has been through and the warranty is up soon.

  15. Caller: Can I get the newest Iphone X with retina scanner and voice recognition?
    Dave: What's your household income?
    Caller: ……
    Dave: Keep your flip phone, NEXT!!

  16. buying camry or civic used is not that smart, those cars dont degrade in price that much
    +cars are really complicated u cant give a simple answer.. some people just want to travel from point a to b , others care about cars and enjoy it , things arent always plain math
    and dont forget that income usually increase with age and never peak before 45-55 so as long as you pay in cash enjoy life
    cheers ^^

  17. The successful business people I know and hang around with buy new trucks but keep them for a minimum of 8 years and put well over 200,000 miles on them. They also finance them when rates are low

  18. The dealer won't give anyone a " end of the year deal" on. a late model car to make room for rhe new models, although the new car sitting on the lot has depreciated throughout the time that it has set on the lot, they will come up with all their little tricks to make you think you are getting a good deal but in realty, you will stll pay full price for a one year old car.

  19. I don’t like second hand cars because we do not know what the previous owner did with it (someone may have died in it or was used in a crime) plus it might include some paranormal activity or negative energy that gives bad Feng Shui for the next owner 😝

  20. Why do some people only buy used cars? I hear people talking about not buying new cars because they depreciate as soon as you drive off. But if everybody followed that advice then there wouldn't be enough used cars available. In order to have a used car that car has to be bought new at some point first.

  21. The factory warranty of a new vehicle is nothing to sneeze at. I would say its value is about $5,000. So when factoring prices of new and used, you should be factoring in the price of the warranty.

  22. I have $8600 in debt and trying to pay it off working for minimum wage. I recently started saving for my emergency fund. Next will either be to buy a used car or pay down debt. Having a car to deliver pizzas in addition to my current job to pay down debt faster. Or should I skip the car and just up my payments on debt? I don't know what to do….. I know that having a used car increases the chance of me having to use the emergency fund. But I feel like I'm getting out of debt very slow.

  23. A 4yo car with average miles will be the option to go with if you were considering buying new. That way the depreciation has gone far down but still have some resale value if you intend to sell in a year or two. I say average miles because if it has very low miles that will keep the price more at a premium as much as possible since there is market value for very low miles

  24. My car has been an investment in my life. I bought it new car 10 years ago for about $22,000; sure I've put some money into it every now and then (new tires, tune ups, oil changes, etc.), but it has served me well through my wonderful travels and journeys in life, and it still drives very well. I love the thing, but there is NO WAY I will ever buy a new car again when I can get the same benefits with a slightly used older car! And before I get that used car, I'm planning to drive this car into the ground — e.g., I'll be driving it like Fred Flintstone! 😉

  25. I’ve never understood why people buy cars at dealerships when instead of getting entangled for years 10k-15k will get you an amazing car with low millage that’s used

  26. I was 35 years in the auto wholesale business and I have yet been able to justify buying a new car. I just bought a one owner 2003 Cadillac Escalade in excellent condition for $3500 in Feb. Works great for me and my family. I also bought a one family 1988 21 foot Tahita boat with a chev V8, merc outdrive and a tandom trailer for $500. The boat needed a battery, starter and a couple of trailer tires. It looks great behind the Escalade. Cheap used anything is one of the things that I love about the USA.

  27. If everyone bought used cars there would be no used cars available. I like to buy new, pay them off within 3-5 years and drive them for about 10 years. Then I always have reliable, modern and safe care that I like. Dave's car advice is good for people with shaky finances who want to get on a more solid footing, but if you value driving a nice car then it's really an imposition of his personal values. Dave hates banks because they once cleaned his clock and he is forever in revenge mode.

  28. I would agree in that buying a used car is a much better financial decision however you can still get hosed if you buy something unreliable and you aren’t car savvy and don’t have a trustworthy mechanic. I would advise buying a lightly used or even a new Toyota since their resale value is so high, take care of it and drive it for a long time.

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