| Buying a new car is not something 98% of the | | | | vehicles. Look in your area papers and find what's for |
| people out there need to be doing. It is a luxury item. | | | | sale. |
| Only buy a new car if you're filthy rich. | | | | But I Really, Really, Really Want That Car! |
| There are alternatives to buying new. Used lots are | | | | Before you take the plunge, listen. |
| overflowing, and millions of cars come from expired | | | | When I went broke, my wife and I were sharing a |
| leases. | | | | car. My friend let me use a piece-of-junk car for a |
| The money saved by buying a used car is because | | | | while. It was horrible! But, I was set in my mind to |
| of depreciation (the loss of the financial value of an | | | | not borrow money. I ended up saving like crazy, and |
| object due to its use). Used cars have already | | | | what I would have put into a car payment, I ended |
| depreciated (60 to 70% in the first 5 years). Buying | | | | up saving toward a new car. It was the best thing I |
| used allows the person who bought the car when it | | | | could have done for myself. |
| was new to eat the cost of the depreciation. Then | | | | Say you are looking into financing a sports car with |
| the person who buys the car used can get a great | | | | payments of $400 per month... The car that you are |
| car for much less than the new wholesale prices. | | | | driving now is worth around $1,500. If you take that |
| If you want to know what used cars are selling for | | | | $400 and pay yourself instead of paying it to the |
| these days, look online. I recommend the following | | | | dealer, you will save $4,000 in 10 months. You will |
| sites: | | | | have $1,500 from selling your old car, so you will be |
| - - - Also, call some of the banks in your area and | | | | able to buy a $5,500 car just 10 months from now. |
| ask them how they dispose of their repossessions. If | | | | Continue doing that for another 10 months and you |
| they have a repo auction in your area, this is a great | | | | will be able to buy yourself a $10,000 car. That is |
| way to find good deals. | | | | only 20 months away. You can do it! |
| But the best deals you can find are usually from | | | | No car fever! Go take a cold shower! No new car! |
| individuals because they are trying to get rid of their | | | | |