Quote:
Originally Posted by young_eng
As far as the car goes, not a great financial decision I know, but I'm glad it only cost me 19,000 to cure the new car fever that many people have. From here on out I plan on buying low mileage used vehicles, I'll chalk this one up to a 19,000 learning experience.!
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I don't think you made a mistake on this. A few years ago I intended to follow conventional wisdom and buy a used car, but like Animorph said, I found that there was no great discount to be had (especially for high quality, fuel efficient cars). One with 75k miles would cost $18k while the same car would cost $21k brand new. As you will learn about investing, once an inefficiency in the market becomes known, people exploit it until it no longer exists. So I bought the new car for $21k, paid it off within six months, and have had no regrets. Cars are expensive, but $19k is much less expensive than most, and it will be a great value if you drive it for the next decade or so.
Tim
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