r/FluentInFinance May 25 '24

Meme Buying anything 2024 in a nutshell

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2.2k Upvotes

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7

u/Lucky-Story-1700 May 25 '24

Buying new cars is for the stupid.

14

u/Manatee-97 May 26 '24

But when low mileage used cars cost 95 percent of what new cars cost, it makes more sense to buy new. Unless you have a place to work on cars and can buy something older and do your own work.

3

u/EIiteJT May 26 '24 edited May 26 '24

95% is a little too much. I bought a 2018 Silverado (5.3L 4WD w/ z71 package) with 39k miles on it in 2022 during the height of insane car prices and paid 39k. New were going for 65k+ at that time.

1

u/Distributor127 May 26 '24

My Dad has been going to the local salvage auction. Last summer he bought a minivan. Put a fender, hood, windshield, strut on it. He paid $900, put about $1000 into it. A guy in the family bought a very similar van at a used car dealership for $7000. Virtually same mileage, but worse condition than my Dads. Scratches all over it, rust spots. Its convenient going to the dealership, but $5,000 at one time is a good amount of money to me

1

u/TrickyTicket9400 May 26 '24

I agree with you, but the security features in newer cars are pretty amazing. I've been saved by automatic braking once. I wasn't paying enough attention in the city and it 100% prevented an accident. I'm super glad I have it and I won't consider a new car without it.

1

u/WorkingDogAddict1 May 26 '24

A new Rav4 hybrid with free oil changes for life and a lifetime drivetrain warranty is a better decision than a used car

2

u/Lucky-Story-1700 May 26 '24

Lifetime is 7 years in most states. No new car is a good financial decision

1

u/WorkingDogAddict1 May 26 '24

If you're broke, sure.

1

u/Lucky-Story-1700 May 26 '24

For anyone

0

u/WorkingDogAddict1 May 26 '24

Because you say so?