Quote:
Originally Posted by Waise
I learned a long time ago buying a vehicle is not an investment; it always depreciates (unless you are in a different car business.) Normally with car loans being extremely low interest rate, I don't even pay a lot of down payment because I could use my cash somewhere else and make more. That said, I buy what I can afford, but I always buy new. (I never leased.) I keep the car for a long time; take care of the car and enjoy the ride with my family on day-to-day drive or during our road trips. When it's time to sell the car (before any major maintenance issues), I always sell it myself and I do not trade it in. It has worked out well for me and my family. So enjoy your car because you know what's best for yourself.
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I have always purchased my cars in the past and kept them a really long time (sometimes too long!!) but am now considering a lease. With the pace of change in technology these days (I think about self driving cars, electrics with longer ranges, etc.) I think I will be interested in upgrading in three years. I know its not the best financial move, but it's how I'm thinking about my upcoming X7 build due to be delivered in July.