The Undeniable Appeal of a New Car

THIS POST MAY CONTAIN AFFILIATE LINKS. PLEASE READ MY DISCLOSURE FOR MORE INFO.

 

appeal of a new carOver the long four day weekend, I dropped my wife’s vehicle off at the dealership to replace a recalled airbag.  If you’re not familiar, there was a recent recall on Takata airbags due to explosive force when igniting.  This affects 19 different car manufacturers, which regulators anticipate affect over 70 million vehicles.  Once my wife learned this, she wanted to take care of the replacement ASAP.  

 

It was a bit difficult for my wife to get out to the dealership with her current responsibilities.  So being the amazing husband that I am, I offered to do so.  But, I put it off for a few weeks until I finally remembered this past week.  It was long overdue, especially since it was safety-related.  

 

I went to the dealership the day before July 4th.  Who knew they were open on the 4th as well!  This dealership is actually open every single day of the year, including Christmas and all other holidays.  Convenient, I suppose!  Are most dealerships like that?  I wouldn’t know…

 

Ritzy Treatment

Appeal of a New CarSince I have never bought a car through a dealership, new or used, this was my first time stepping foot in a dealership.  Let me just say, I now understand why customers bring their vehicles for service at these facilities.  I parked my car in the service lane, and the attendant promptly greeted me with a ticket number and encouraged me to get a cool beverage inside while they processed the vehicle.

 

The gentleman behind the kiosk asked for the ticket number and offered a complimentary loaner vehicle until they completed the repair.  This was nuts to me.  I was getting a simple, free recall repair, and here they were offering me a loaner.

 

I quickly reiterated to him that I was there to get a recalled airbag replaced.   That didn’t change his offer.  My options were sit and wait in the lounge or take the loaner.

 

A Tough Decision

Appeal of a New CarI have to say, I was tempted to utilize the lounge option.  It looked like a man cave.  There were multiple flat screen TVs, snacks, beverages and even massaging chairs.  Everyone in there looked relaxed without a care in the world.  I wanted to join them, but something in the back of my mind said not to do it.  

 

Remembering my pregnant wife at home with our rambunctious 21-month old, I decided that if I wanted to ever step foot in my house again that I should probably get home.  

 

I asked the customer service rep multiple times, since I was naive about the process, if the car would be free.  He kept assuring me that it was, in fact, free.  I’m sure he still saw the skeptical look on my face.  

 

I couldn’t understand for the life of me why they would give me a free loaner car.  Sure, my wife had bought her vehicle from their dealership back in 2011.  But she was far from a loyal customer there.  This seemed like a perk too good to be true.  But I quickly came to realize why the dealership was willing to give me a free loaner.

 

Leaving in Style

Appeal of a New CarThe customer representative handed me the keys as he walked me out to a brand new Lexus RX 350 SUV.  The starting price on this vehicle is $43,120, and the model that I drove home exceeded $55,000.  I had dropped off a 10-year old sedan and was leaving with a brand new fully-loaded SUV.  

 

Throughout the years, I have driven a lot of older vehicles.  Most of them have been at least 10 years old.  The last car I purchased was a used 2000 Honda Prelude that I bought in 2010.  Once I got married though, I sold it because my wife hated it.  She thought it looked like an alien spaceship.  

 

The Appeal of a New Car

Appeal of a New CarOver the years, I could never understand why my housemates were obsessed with buying new vehicles.  They’d always spout off about all the new technology that their new cars offered.  Pretty much, I ignored the hype.  I figured my car could get me from point A to point B just as well as their vehicles, so what was the big deal?

 

After driving this brand-new Lexus for a day, I finally understood.  The seats were so plush.  They were a perfect blend of firm yet soft.  They also had heating and cooling features.  And on that summer day, cooled seats had never felt better.

 

Driving down the road, it was the smoothest ride.  It felt like I was riding on clouds.  I didn’t even bother turning on the music.  The experience of the ride in itself was more than enough.  (I promise, this isn’t a sponsored post).  I’m sure I looked like an idiot grinning ear to ear as I came up to every stop light.  I couldn’t believe what I had been missing all my life.  Before I arrived home, I tried to devise a plan to convince my wife that we needed this car.

 

Trying to Convince Mrs. MSM

Appeal of a New CarWhen I arrived home, I asked my wife to come outside, so I could show off the car.  She hopped in and immediately commented on the comfiness of the seats.  I encouraged her to take it for a spin so that she would see things the same way I did.

 

She came home after a couple hours and admitted that the car really was amazing.  While backing out of a parking spot, the car automatically jolted itself to a stop as a car sped behind her.  That feature, in particular, impressed her the most.  But as the saver in our relationship, she posed a great question.  

 

Why would we need this car when our cars work perfectly?

 

I speculated in that moment that dealerships utilize these sleek new cars as loaners to generate more sales.  I felt like a fool.  They had duped me into thinking I really needed this vehicle.  I’m sure I’m not the only one though.

 

Paying $$$ For New Cars

Appeal of a New CarAccording to Edmunds, the average car loan is now 69.3 months, or a little less than six years, with an average monthly payment of $517.  That breaks down to paying almost $36,000 for a vehicle.  In fact, 1/3rd of vehicle owners will trade in their vehicle and owe more than the vehicle is worth, rolling the difference into the new loan.

 

I have secondhand experience watching a housemate do this.  He drove a Mitsubishi Eclipse, i.e., the hottest car on the road (to him).  That is, until a couple of his buddies, who were drinking, started to tease him about his “girl car”.  The very next day, he drove to the dealership to trade in his girly Eclipse in for a more manly car, a Jeep Wrangler.  He took a bloodbath on the trade in, and he rolled the difference into his new loan.  The Jeep ended up costing him 50% more than what the MSRP was when it was all said and done.  

 

An Offer We Could Refuse

Appeal of a New CarI knew that I didn’t want to go down that road.  When they called to let us know they had completed the repair, we returned to the dealership.  They tried to butter us up a bit with a “top dollar” offer on a trade-in for my wife’s low-mileage car.  No chance they would give us top-dollar.  I guarantee we would get much if we sold to a private party.  But regardless, my wife politely thanked them for the offer, and we drove away.

 

On the way home, my wife informed me that she loved her car and had no intention of ever getting rid of it.  I breathed a sigh of relief in that moment.  As much as I’d love to own that brand-new Lexus, I really don’t want to deal with the payment that comes along with driving a vehicle of that caliber.  

 

In the meantime, we’ll keep enjoying our 10-year old car and remind ourselves that ignorance is bliss.  

 

So readers, do you drive new or old vehicles?  Do you have a car payment?  Has a dealership tactic ever swayed you?  Share your thoughts below.  

Mustard Seed Money

Welcome to the website. A mustard seed is a very small seed but astonishingly grows very large over time. My hope is that through your financial journey that your small investment in time, money and faith will grow beyond anything that you could ever imagine.

64 Comments

  1. Never knew the average monthly costs on a car loan would are that high!

    I’ve always bought used cars, as did my parents. And always assumed that most people did the same. Well turns it they don’t.

    This is probably the one thing you can save a lot of money and very easily at the same time.
    Divnomics recently posted…Monthly Dividend and Portfolio update – June 2017My Profile

  2. I read that Edmund report too! It’s basically a 70 month loan! 70!

    The stop feature sounds awesome. The one thing that does impress me are the new safety features in modern cars. They’re metal killing machines, any Maniac can end someone’s life with one. I would pay good money for a peace of mine if our family drove. A pregnant wife should have the best-est, safest everything 😀

    I don’t blame you for being tempted but I definitely think they were trying as a marketing scheme.
    Lily @ The Frugal Gene recently posted…The Super Savers: Q&A w/ Lance @ My Strategic DollarMy Profile

    • Thanks for sharing Lily!!! I can’t wait until driverless cars come out. I heard that they will reduce deaths by 99%. That sounds wonderful to me 🙂

  3. Sweet tactic indeed

    The car we own is second hand, paid cash. The other one is a company car. A common practice in Belgium.

  4. After buying my first car, a Nissan Versa, new right out of college (ouch!), I am a used car advocate. The Nissan was fine, I paid it off in 2.5 years and sold it after owning it for 4+ years and putting almost 100k miles on it, but never again. We now own used Subarus which are great in the winter and I love my manual transmission Outback!
    Mrs. Adventure Rich recently posted…What’s in Our Wallet: Cars and Trucks EditionMy Profile

    • Oh wow, I have heard so many credit things about Subarus. I definitely wouldn’t mind owning one down the road. I’ve only heard great things about them.

      • My youngest is driving a 1997 Subaru (sibling->me->my oldest->my youngest). It will be replaced, soon, probably with a Yota.

        Were I in the market for a new Subaru, however, I would only buy the manual, until they fix the 3rd-party (automatic) CVT used, which has NOT proven reliable. Many have had to pay for a new one ($7500+) not long after the 60,000 mile power train warranty expires.

        I would certainly lease one, however.

        • Wow sounds like that is a long lasting car!!! Sounds like you know your Subarus. I’ve only heard good things about them and would definitely consider one in the future 🙂

    • Thanks for sharing Brad!!! Sounds like you can definitely afford it especially if it makes up a small percentage of your portfolio. That’s awesome to here.

  5. In the Millionaire Next Door, they write about the different ways millionaires purchase cars. Some buy new from dealers, some used from dealers, some used from owners. Almost none of them lease. Each way has advantages and disadvantages.

    I tend to purchase new, and then drive them into the ground after 10-13 years. I have owned 3 cars previous to the one I am currently driving (7 years old). Of those 3, I have had left 2 of them on the side of the road after breaking down, and only then did I get a new car (I actually had them towed and given up). While I like it when I purchase the new car, to me it is just a mode of transportation, so I don’t get wrapped up in it too much.

    My wife has owned one car previous to her current one (11 years old now). That one was also falling apart, but she traded it in at the dealership for her current one. I think the dealer planned to chop it up and use the parts for replacements, since it was a 1992 Saturn S2 – hard to get the parts for.
    Kevin@39months.com recently posted…Updated personal files/disaster filesMy Profile

    • Thanks for sharing Kevin!!! Interestingly enough growing up my Dad would buy brand new cars for my mom and then buy used cars for him. I asked him why and he said my mom didn’t want to deal with any problems while my Dad was willing to take a little risk in order to get a nicer branded vehicle. It worked well for them over the years and I may do something similar with my wife 🙂

  6. One of my first articles talked about my last new car purchase a bit, back in 2015. We bought a new economy car because we needed a more practical car for the kids. Beyond that our last car purchase was 9 years ago. The reason I highlighted the post is one reason. It talks about how to buy a new car, if your so inclined. The key to the best deal is the same as the key to not buying… don’t negotiate or discuss it on site! Car dealers livings are made negotiating and up selling. If they’ve survived on the income then they are probably better at it then you. So if you don’t want to buy a new car, don’t go to a new car dealership.
    FullTimeFinance recently posted…Millennial Early Retirement Increase is ConcerningMy Profile

    • Thanks for sharing Full Time Finance!!! I will definitely check out the article just for my own edification. While not in the market currently it would be nice to know the info for the future 🙂

  7. We have one new car (2014) and one old one (2000)

    Our dealer has been sending me cards saying “Brand new car for the same monthly payment on a trade in” – but that means we start our payment cycle over which I am not willing to do. I guess that is a common tactic when they are short on used cars and want to get people into something newer/continue payments
    Apathy Ends recently posted…Action = Results: Q2 2017 Net Worth UpdateMy Profile

    • Thanks for sharing Apathy Ends!!! It’s interesting the tactics that the dealerships try to use to get you in the door. I know it’s got to work if they’re sending out cards, b/c dealerships usually don’t waste money on promo materials 🙂

  8. Buying new really isn’t that big of a problem if you drive them into the ground, stayed within budget on your purchase and paid cash. All three boxes are very very rarely checked. Most people do exactly like your friend. I recently read that 85% of new cars are financed and the average loan term is now 6 years with companies offering 7 and 8 year options.

    Personally we have always bought used from private parties and paid cash. Mine is only 8 years old my wife’s is only 4 years old so they both have a lot of life left. I’m hoping to hit 250,000 on both. Then maybe we can downsize to one car and it will be Tesla time 🙂

    I have ridden in that exact car and they are a sweet ride. Not 55K though.
    Grant @ Life Prep Couple recently posted…New Year’s Resolution UpdateMy Profile

    • Thanks for sharing Grant!!! My wife’s car is hitting 9 years old and only has 66k miles. So I’m hoping that we can keep it running for the foreseeable future 🙂

  9. Back in 2013, I bought a new 2013 Toyota Corolla after my 2002 Pontiac Sunfire died shortly after reaching the 100,000 mile mark. I put a little extra down and with my credit score being what it is, I qualified for the 0% interest. I know, I know. They got me. But, at $276 per month, I’m much better off than that average you cited above, I’m ahead in payments, and I should have it paid off early next year. I’m at $3,000 right now. I’m around 61,000 miles as of today with the Corolla and from what I know about Japanese cars, I’m good until at least 200,000 miles.

    • Thanks for sharing Dave!!! Sounds like you picked up a nice reliable car and having it paid off next year will be great. Sounds like you made a nice purchase 🙂

  10. I have a two year old oddessy and an eleven year old Mazda 3. Both vehicles I bought brand new. When I bought my Mazda 3, it has all the bells and whistles. After driving it for a few years, I noticed that I don’t use many of the features.

    When I bought my oddessy two years ago, I only get what I needed and rejected an upgrade of a navigational system + leather seats +
    A DVD entertainment systems. This upgrade costs nine thousands. No thank you.

    I also have the same view as you. If my vehicle gets me from point A to point B, then I am happy with it.
    Leo T. Ly @ isaved5k.com recently posted…Should You Manage Your Own Investments?My Profile

    • Thanks for sharing Leo!!! It’s amazing what you think you’ll want and what you actually use. The one feature that I currently love that I don’t think I’d want to lose is the back up camera. I LOVE it, good thing it’s becoming standard 🙂

    • Thanks for sharing Mr. Freaky Frugal!!! I am eagerly awaiting autonomous vehicles. That will be a game changer that I am eager to come to market.

  11. Ooooh this is a GREAT marketing tactic from your dealership. Sneaky, indeed. The worst deal I ever had on a car was the Honda Fit that my dad and I co-owned. He rolled in the payments of two other cars into the payment for this little Honda, which amounted to over $40,000! And then I took over the payments when I was an adult, adding up to $450/mo. Argh! I got rid of it, thankfully, but not after learning that I need to buy cars cash.
    Mrs. Picky Pincher recently posted…Why Bottled Water Pisses Me OffMy Profile

  12. New cars are nice to look at and fun to drive. We bought my wife’s car brand new and mine was a 1 year old certified. We don’t buy luxury brands. We also drive them for 10-12 years and put about 200k miles on them. I use mine for work and get reimbursed for mileage. A luxury model would not make sense for me because I pound my car with miles.
    Dave recently posted…My Kayak: Frugal Fun on The LakeMy Profile

    • Thanks for sharing Dave!!! Sounds like you definitely get your money’s worth with your cars. Especially if you get reimbursed for your mileage 🙂

  13. I do like that smell. Not quite the same as the great outdoors but there is something exhilarating about it. Good move dodging the sales pitch! Cars are nice but expensive. A recent article came out saying loans now go to 72 months. That is 6 years of debt to own a car that most people sale after 3. It is nuts.

    We bought both our cars new in 2011 (Camry and Altima each for about $21K). They run smooth and only have 40,000 miles on them. I am going to ride them to the ground. Our families tell us we should get the new, safer cars with all of the auto driving features. I tell them I have been driving for 20 years and am doing just fine.
    Dads Dollars Debts recently posted…Hump Day- July 5th, 2015My Profile

    • Thanks for sharing!!! Sounds like you have some great vehicles that you won’t have any problems running into the ground. I have to admit that some of the new features out in cars are super nice but nothing that is absolutely needed 🙂

  14. We have three cars. Two were purchased used and one brand new. All are paid for. We do use the dealership for things covered under warranty but have a local family run mechanic we use for all other repairs. We try and avoid the plush dealership and their Jedi mind tricks. 🙂
    Brian recently posted…Net Worth Update: June 2017My Profile

    • Thanks for sharing Brian!!! We have a local mechanic as well and boy am I glad that we do. He’s normally half to 2/3rds cheaper than the dealership 🙂

  15. Whenever you feel this way, just go to a dealer and test drive a new fancy car. Tell them you just entered the market and need to look at several more cars before making any type of decision. This works for me 🙂 and I get to drive a nice car in the process. The thrill is really brief and temporary.
    SMM recently posted…Bye CDs – Well Hello There DividendsMy Profile

    • Thanks for sharing SMM!!! I have to admit that I haven’t thought about the car since my wife returned it. Definitely a got it out of my system 🙂

  16. Never get in those cars!!! Like you said, ignorance is bliss! You don’t know what you’re missing out until you realize what you’re missing out. It was a bit of a similar situation for me with the Tesla I was raving about. I tried to convince my wife; but luckily (and surprisingly), she was the one that said let’s think about it for longer since both of our cars are still new. Doesn’t have to be never, but there’s a good time and a bad time when it comes to pulling the trigger on stuff like this. Especially impulse buys, since those are purely emotional purchases and tend to end up in serious case of buyer’s remorse.

    • Oh man I am definitely drooling over the new Tesla 3s since they are all over the news. I wish I had put my $1k down, but then think about how I really don’t need it 🙂

  17. We have a paid off car. It’s 3 years old and we plan to use it until the wheels hit the dirt.

    Recently I received a phone call from a dealership I bought my car from and they asked me if I would like to trade off my car for a new one. They told me that they have great options for me, low APR and so on. And I proudly said that my car is paid off and I have no plans to go back in debt.

    🙂
    Friendly Russian recently posted…It is the time for ESPPMy Profile

  18. One of my first articles was about my previous sexy vehicles. Now I’m driving seriously non-sexy 2008 Ford Focus.

    I used to work at a Jaguar and Aston-Martin dealership and of course ‘needed’ to drive a Jag…nowadays I know what I really need and it’s not a brand new luxury vehicle. 🙂

    Thanks for sharing your story, Rob! I can just about picture that grin on your face driving the new SUV.

    • Thanks for sharing Amy!!! A Ford Focus is a great car. My old roommate had one and it was deceptively wonderful. Luxury cars are definitely a bit overrated in my opinion 🙂

  19. When we decided to become a one-car household a couple years ago, we bough a new Honda Civic sedan on a 0.9% loan. We have 13 payments left and after that, we will remain a loan-free household. I’m glad we bought the Civic new, as it gave us some important-to-us features (like the back-up camera). Now we plan to drive it until it won’t drive anymore, which should be a long time since we don’t put many miles on it. I will admit to being tempted when the dealership started sending us letters to trade up to a new one at the same payment rate (of course extending the loan). But their marketing ploy didn’t get me! Glad you were able to resist the siren call of the Lexus SUV.
    Gary @ Super Saving Tips recently posted…7 Easy Ways to Ramp Up Your SavingsMy Profile

    • Thanks for sharing Gary!!! Civics are such great vehicles. My grandma has driven one for as long as I can remember. It’s been a wonderful car for her over the years and definitely something she’s enjoyed 🙂

  20. My dad co-signed for me and I got a brand new 1992 Nissan Sentra. I drove that until 2015. Then I bought a new 2015 Honda Accord. I bought new because of all the safety features which I couldn’t find in a 2011 or 2012 model. It was hard to find used 2014 or 2013 models that I wanted and with the safety features.
    Thinking back on the Sentra, if I had it to do over again, I would have sold that car around 2005. It required a lot repair work and for the last 5 years, I was driving on a transmission that I sounded like it was about to drop off the undercarriage. It was a hard shift going from 1st to 2nd.
    Like many in the FIRE community, I took pride in keeping that old car. In addition to a dying trannie, two different mechanics showed me a crack on the front wheel axle that they said would eventually snap the axle. I just adjusted my lifestyle to fit the car – avoid the highways and take routes with the least stop signs and lights because that shift from 1st to 2nd felt like a sledgehammer.
    With the new car, I can go anywhere anytime and I have a sat nav that guides me there so I don’t have to consult the Thomas Brothers maps I had in the glove box. The peace of mind of having a reliable car with added safety features is more valuable than I realized. In hindsight, I was putting myself at risk by continuing to drive that car for the last 5 years I owned it.
    Once a self-driving car becomes common and reliable, I think I will upgrade to a new car (presumably the first few model years will have some kinks). That’s my holy grail, a car where I feel safe enough to nap while it is driving itself. I’d pay a premium for that.

    • Thanks for sharing Dan!!! Like you I can’t wait for the self driving car to come to market. I will be the first in line as I would love the safety and potential comforts of not having to drive anymore 🙂

  21. My wife got into a car accident in 2015 that totaled our old car, and our insurance company gave us about $11K to buy another one. This turned out to be a blessing though because we were able to buy a used 2014 Kia Forte for about that much, all in cash. I guess it’s how I was raised, but I can’t even bare the thought of having a car payment. I bought my first car for $1000 on Craigslist and have always bought in cash since. In this particular case, I agree with Dave Ramsey’s method of buying an older, cheaper car while saving for a better one, and then just constantly upgrading when you have the money.
    Matt @ Profitable Matters recently posted…15 Of My Favorite Ways to Save MoneyMy Profile

    • Thanks for sharing Matt!!! Sounds like you got a great deal on a Kia. I am definitely in accord with Dave Ramsey when it comes to older cars and saving up. Definitely makes a lot of financial sense especially when you consider depreciation 🙂

  22. I’m actually currently deciding on whether I should get a new car or a used one.
    I think the major factor for me is that I have to get a loan even though I don’t want to have debt on my hands but sometimes it’s inevitable.

    However, I can’t stop thinking about getting a brand new car that’s been untouched. There’s an appeal about it that’s tempting me to buy it.
    Cory @ Growing Dollars From Cents.com recently posted…How To Start Email Marketing For Beginners – The Right WayMy Profile

    • Thanks for sharing Cory!!! Having never owned a new car I can definitely see the allure. But it does make it easier never having owned a new car to not jump in at this point 🙂 Good luck in your decision.

  23. I like driving through the lots to look at the new cars too. Until the salesman comes out to strike a conversation. My eyes popped out too last year when I started seeing the 72-month and 84-month loans with 0% financing. I know a new family SUV or pickups can easily start at $40,000 which is why my wife & I keep driving our cars from 1998 and 2009. The concept of having a small house payment on a depreciating asset is a horrible tradeoff to get a new set of wheels at the moment.

    P.S. Congrats on the future arrival to your family!
    Josh @MoneyBuffalo recently posted…Is All Debt Bad?My Profile

  24. One of the perks of not owning a vehicle (and having no desire to buy another vehicle ever again) is that I don’t plan on stepping foot in another car dealership! I’ve ever only purchased one car from a dealer and I hated the experience. Even though we had taken care of all the details in advance (I had been living in Utah and was planning to pick the car up on my way back to Michigan), it was a several hour ordeal and a few items got changed at the last minute (and not for the better). So although I have yet to be tempted to buy another vehicle, that experience serves as a strong reminder of why I don’t want to get back into another vehicle. I’ll gladly go bike shopping any day and skip the car dealer. 🙂

    • Thanks for sharing!!! I would gladly bike to work if they had some nicer trails around here. Sharing the roads with crazy DC drivers is not might idea of safe.

  25. The sight of a car dealership does nothing for me. In fact, when I see all the fancy cars zooming past, I think of the never-ending payments. My guess is that 80% of the nice cars on the road are budget-busters and those drivers have no business having them. When I first saw 72 and 84-month financing advertised in the newspaper, my pulse stopped.
    My last new car was bought a few months before the 2008 recession. I was making really good money back then. I thought long and hard about how a new car probably would not make me a happier person. After owning the car for 9 years, I was right. Don’t get me wrong, I love it, but it doesn’t change my basic human needs.
    I like owning a brand-new car but when I buy, I’m in it for the long haul. People that turn over their cars every two or three years will be slaves to the job forever. I envision a minimum of 10 years of use. Here’s my track record: first new car in 1986 after college, second new car in 1997 (still owned) and the 2008 purchase (still owned).
    I would like my next car to be brand-new, paid in cash and suitable for a minimum of 10 years.
    Dora recently posted…Your Health Is Your Most Valuable AssetMy Profile

    • Wow it sounds like you definitely know about your cars and how to keep them running for a long time.

      On top of that it looks like you hold cars for about 11 years so your next car should be due 2019 🙂

  26. You are a good husband MSM! You could have relaxed in that man cave and your wife would never have been the wiser. For all she knows, it was some drab waiting area with free disgusting coffee, some car magazines, and a small television! LOL. Anyways, I think that’s how car dealerships lure you in. I’ve actually never driven a really nice car so maybe I don’t know the difference. Maybe it’s best we keep it that way. However, studies do say that the excitement of the new car will wear off…and all you’d be left with is those expensive car payments.

    • The funny thing is that by this weekend I had already forgotten about the car. So it was a quick 24 hours that we had the car and I forgot about it just as quickly 🙂 Clearly I don’t need a new car!!!

  27. I don’t blame you one bit for passing on the new car. The depreciation on a new ride is brutal. We decided to splurge a bit and did get a brand new vehicle recently. Just returned from a 1500 mile road trip and enjoyed it. The thought of doing that in our old vehicle makes me cringe. Not that a person couldn’t have gotten a gently used vehicle and enjoyed as nice of a ride but that was the decision we made. Take care!
    Mr Defined Sight recently posted…Montana Vacation 2017My Profile

    • Thanks for sharing Mr. Defined Sight!!! One day when I reach FIRE I would definitely love the option to buy a new car and enjoy it. Although by then we’ll probably be ride sharing with Uber, Google or Tesla by that point!!!

  28. Oh, I definitely get the appeal of a new car. We try to be frugal with our vehicles, but there does come a point when the cost of repairs to an older car are more than the vehicle is worth.

    Our go-to move in this situation is to buy a slighty-used car with around 20,000 miles. Here you can get alot of the new technology and plushy niceness, but at about half of the sticker price of a brand new vehicle.

    • Thanks for sharing Jefferson!!! Most of the cars that I bought over the years have been 7-10 years old with 60k miles was my target. I’d then drive them for 60k and then get rid of them in five years or so. Definitely had a couple of clunkers along the way but it’s been worth it 🙂

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