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Showing posts from March, 2014

Why I am buying a brand-new car

Some financial experts and amateurs tell us that it’s one of the worst things we can do for our budget: buy a brand-new car instead of one that is just gently used. And I myself have subscribed to that belief all along. Even my Partner (who is $1000s in the hole from neglecting his Line of Credit for years) told me just a few weeks ago, new cars are not worth the expense because they depreciate as soon as you drive them off the lot. If a financial emergency comes up and the car needs to be sold in the first year or two, you will not receive the amount that will still owe on the car. Maybe I am high on the new car smell from the cars that I have been test-driving. Tomorrow I am putting in a credit application for a brand-new car. Not a 2013 model. A 2014, brand-new car. I know, it is a risk. If my financial situation changes in the next year or so (it has only been getting better, so I hope that it continues to), I might be stuck with a debt that I cannot pay. And I am willing