Saving for a New Car

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  • #2572

    I grew up in the automobile business (daughter of a wholesaler), and married a man who fell in love with the business and became an auto buyer. I’ve learned that a $9,000 car gets you to the same place at the same time as a $90,000 car. When I shop for cars, whether it be new or certified used is to look at the warranty.

    BTW: I am 67 years old and I have never in my life had a car loan. I’ve always paid cash for my cars. I just tuck away a certain amount each month and figure in the trade value and shop that way.

    #2582

    Zipporah, it’s great to get validation from an expert! For years I always bought new, and then we started buying used for the kids. Once I saw what great deals there were and how much money we saved on their cars – I have done a 180.

    #2587

    We learned a hard lesson recently. We bought a used car for under $4000 for our children. We thought we got a great deal. Instead, we bought a headache. We spent twice that in the first 18 months fixing major issues that were not uncovered in the inspection. My warning is it pays to spend a little more and absolutely check that warranty!

    #2591

    Suzanne, good advise! With six kids we have purchased 5 used cars now (one got totaled in an accident. Thank goodness -everyone was fine.) But all of them, even the one that was totaled (a Honda Civic), have been exceptional cars. Sturdy and reliable. My son’s truck has over 200,000 miles now, and still going strong. Knock on wood! My daughter’s Subaru went from California to Vermont, then onto Colorado where she now lives. Counting my blessings that we have lucked out.

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