2. CRUISING: You don’t need a new car
Aside from getting in an accident, the biggest drop in value your new car will experience is when you drive it off the lot. It’s ridiculous what happens to car values when they go from “brand new” to “two miles on the odometer.”
What to do? Buy used. And that doesn’t mean settling for a lemon. No one around town (or on social media) will be able to tell if you’re riding in a brand new vehicle or one with a few miles on it. (Apparently the $450,000 Ferrari Tyga “bought” for Kylie Jenner was used—possibly by his ex-girlfriend. Awkward.) Buy used. Even better, buy used and bring a mechanic buddy with you to check under the hood before you make a purchase.
All new cars become used cars as soon as you drive them. Your parking lot selfie will look just as good in last year’s model. (Don’t selfie and drive, please!)
Discussion about this post