Brandi RhoadesPersonal Finance 101: Why is buying a new car a bad idea?
August 25th 2008 21:30
Cars are a depreciating asset; in other words they’re a liability. When you buy a car, it begins to lose value as soon as you drive off the lot. Most cars lose the majority of their value in the first two years of ownership. By purchasing a well-maintained new car, such as one a dealer is selling after a lease is up, you will save significant money and still have a nice car.
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