Buy a new car or a used one?

Question

I have enough money for a used car, and if a new one, then I need to take out a loan. Help me with tips please

Answer 1

If you have enough money to pay in cash for a good used car then you should go the used car route and buy a good used car.

When buying a used car you save a lot of money due to depreciation.

When you drive a brand new car off the lot it loses a lot of value and your new car is used already then anyway.

What I do when I need a new car is to buy a car that is maybe 2 to 5 years old that is in good condition which saves me a lot of money.

I drive my cars until they are no longer worth fixing so I get my money's worth out of them.

Buying a new car is okay if you can afford too but I would recommend buying a good used car.

I have a trusted mechanic look over any used cars I buy and if it's just something cheap to fix then I will still buy the car but if the repairs are gonna get expensive then I don't buy that car.

When you take out an auto loan you pay a lot of money in interest.