Reasons Why

You Should Never

Buy A New Car

For some wealthy individuals this is just one more of the many smart money moves that help them build and preserve their wealth.

Newer Almost Always Means A Higher Purchase Price

Edmonds.com found that buying car that’s three years old beat out buying a brand spanking new car by thousands of dollars.

You Pay More Interest

Saving up enough money for a nice used car is probably more realistic than saving up to pay cash for a brand-new car.

New Models Depreciate Faster

According to Carfax.com, a new car loses about 20% in value the first year, and some can lose up to 50%.

You Pay Higher Taxes and Licensing Fees

Whatever the rate is, if you pay twice as much for a new car versus a used one you’ll typically pay twice as much in sale’s tax.

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