When it comes to cars, which do you think is the best option overall?
Cars drop in value right away soon as you drive them off the lot. I can't remember the average they drop but it almost seems criminal when you look the prices doing down. I used to think buying a new car was a good investment but it seems like it is the most senseless purchase someone can make. I have seen new cars selling for 25k and their slightly used counterpart (about a year old, low miles) selling for $16k. That is almost a 10k difference!
Leasing isn't much better because you aren't "owning" anything but it takes off a lot of the cost and responsibility for the upkeep of your vehicle, so there is an upside there. With good credit as well, you can get a decent price monthly and do trade-in deals every 3 to 5 years.
Cars drop in value right away soon as you drive them off the lot. I can't remember the average they drop but it almost seems criminal when you look the prices doing down. I used to think buying a new car was a good investment but it seems like it is the most senseless purchase someone can make. I have seen new cars selling for 25k and their slightly used counterpart (about a year old, low miles) selling for $16k. That is almost a 10k difference!
Leasing isn't much better because you aren't "owning" anything but it takes off a lot of the cost and responsibility for the upkeep of your vehicle, so there is an upside there. With good credit as well, you can get a decent price monthly and do trade-in deals every 3 to 5 years.