Should i buy a brand new car or a used car under $10k?
Well i have 2 choices either buy a used car under $10k or buy a brand new car with $10k downpayment and no more then $250 a month and would like to pay it off within 3 years.
Well i have 2 choices either buy a used car under $10k or buy a brand new car with $10k downpayment and no more then $250 a month and would like to pay it off within 3 years.
ANDRE L
With the used car, you owe no more money on it.
With the new car, you DO owe more money over the $10K.
As no one here knows your income and financial means, no one can even GUESS what you can afford.
thebax2006
You know....if you can't figure it out by yourself and feel the need to ask strangers perhaps you should buy a $3000 beater to get around in until you figure out what you're doing with your life.
regerugged
It is your money. You can do whatever you choose. I personally would by the car under $10,000, In three years a newly purchased vehicle is worth about 40% less, and you end up paying a lot more with the interest payments.
jimanddottaylor
The most economical thing to do is to buy a late model used car. On such a car you lose most or all of the new car warranty, but you will also be paying about half as much for it. That $250 is going to mount up $9000 by the time you pay for the new one.
3 years from now, would you rather have a 3 year old car, or a 6 year old car and $9000 in the bank? The longer you keep the car the less difference in value there will be.
Best to buy the used car, but do try make sure that you buy a good one.
Scott
Avoid an auto loan. Pay cash. But a Honda Fit or Toyota Yaris. A 2013 model with less than 100k mileage.