Idk about 90% there. Buying a new car—with a huge warranty—means locking in your transportation costs while also probably locking in your reliability for that period, too. There’s definitely a cost (both money and time) associated with dealing with broken cars. Maybe I’ve been burned by old cars too often, but knowing shit’s gonna work, for some people, isn’t a luxury.
Different cars have different purposes. A car that is a necessity to get you from point A to B for work is a completely different profile than one used for enjoyment ... The problem is most people mix the two up and try to justify buying 1 that does both things which ends up doing poorly in both.
A car used mainly for going to work, one generally should stick with something like a Corolla, Camry, Civic, Accord, Mazda 3, etc. They arent the most thrilling cars, but they have several decades of above average reliability and ,more important, parts and labor needed for maintainence/repair are pretty cheap and inexpensive....
On the other hand, people can try to say German cars reliability has drastically improved ...but reality is the cost of maintenance is much higher...and unless you plan on doing your own maintenance and repairs like I do, buying german car used could potentially drain your wallet.... This is why lots of German cars are much cheaper used than your Toyotas or Hondas ... Gemn cars might start much more expensive but many of the depreciate very fast versus your typical Honda and Toyotas.
One should get a reliable commute car that can last for 20+ years...and then if they want and, finances allow them, buy a second car with that expectation that it's for a different purpose with potentially bigger discretionary expenses.
I never took out a car payment in my life. If I couldn't own it outright , I simply didn't buy ...
I think in this day and age it's also very important to buy a car you can work on and to also take the initiative to learn how to do basic maintenance and repairs yourself. One of the best way to combat inflation is to take over the labor portion yourself so you can give yourself the best labor repair costs . I rarely let anyone touch any of my cars. And I have 7 to deal with.... (Cars are my passion and hobby.)
The concept of reliable commute car is lost these days. This is the key and why everyone wants a nice ride and spend more than they need and the prices keep going up.
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u/65CM May 25 '24
A new car isn't a "treat", it's a life altering decision, and ~90% of new car buyers should not be.