$9425 closer to being DEBT FREE!

[AdironRider]

Im not denying that clientel look at track record most importantly, but you still need to sell yourself. Im not saying taking out a rediculous car payment either, but finanancing a decent car is not going to hurt you.

[RobertK]

Im not denying that clientel look at track record most importantly, but you still need to sell yourself. Im not saying taking out a rediculous car payment either, but finanancing a decent car is not going to hurt you.

Actions do speak louder than words though.. most people looking to invest already understand that Rome was not built in a day. In retrospec, taking out a loan to buy a nice new car when you acknowlege the fact that it's a bad investment, it's like saying it's ok to throw money away that you don't really have to begin with.

I guess the point I was trying to get across is that you can save enough money in a short amount of time to buy a nice used luxury car with cash. Let someone else take the depreciation hit in the ass.

When it comes to selling yourself to people, unless you're a traveling salesmen, I doubt a nice new car will really make a difference. Never made a difference to my friend's dad. Fianacial planners let their investment numbers and track record do 90% of the talking. I would say you car would matter to about .5% of the people you meet.

[Z3Jonathan]

Nah.. you can buy a 10 year old Honda these days that MIGHT need a new timing belt and that's it. If you buy a car that's 4-5 years old that "needs stuff" already then you bought a VW or a Ford.

I don't like the fact that I bought a 02 Galant but I did buy it 2 years used and now it's 4 years old and all it's ever needed was 4 new spark plugs and a set of tires.

Hondas are not impervious to repairs....

[RobertK]

Hondas are not impervious to repairs....

No one said they were.. they just tend to need less of them..

of course repairing a car is not a big deal unless you are going through engines or transmissions left and right for no good reason.

I guess what some of us are getting at with the depreciation and warranty repair cost on a new car is this. If you buy a car 2 years used like the IS300 mentioned earlier and you blow the engine up it will cost alot less than $16k to replace.

I don't know anyone that would say they have thousands per year to throw away in the name of convenience. However, I do have many friends that do it unknowingly.

To break down the math it's like this:

Average New Car Price = $25,000
Average New Car Depreciation in 4 years = $15,000 (or $3750/yr. or $72/wk.)

Average Repair Maintenance Cost in comparable reliable 4-5/yr used car = $1000-$1500 if that

Bascially when you buy a new car.. you might be buying convenience but you're betting the dealer$15,000 that it will break down in the next 4 years and the dealer payout in repair cost is alot less than that if you win the bet.