Aaron Clarey now says folks cannot afford to live on their own

[EyeBRollin]

That's ridiculous.

Anyone who buys a new car has bad money habits, IMO. They are putting huge money into something that only depreciates in value, and does so immediately the second they drive it off the lot.

For the most part yes. However, the conversation is more nuanced than that. A cars “value” is not the resale value; it is the total overall cost of driving that vehicle X miles.

 

[BackInTheGame78]

For the most part yes. However, the conversation is more nuanced than that. A cars “value” is not the resale value; it is the total overall cost of driving that vehicle X miles.

It's still almost always going to be a bad buy.

If you can buy the vehicle 3-4 years old, you'll likely get it for half price or close to it and it's unlikely you will be able to drive a new car double the miles that you can the used one.

Not to mention the higher the price is, the more money you end up paying in interest as it's a fixed percentage and the higher the price, the more money in interest you pay.

 

[EyeBRollin]

It's still almost always going to be a bad buy.

If you can buy the vehicle 3-4 years old, you'll likely get it for half price or close to it and it's unlikely you will be able to drive a new car double the miles that you can the used one.

Not to mention the higher the price is, the more money you end up paying in interest as it's a fixed percentage and the higher the price, the more money in interest you pay.

Interest rates are higher on used cars. I think the issue in America is more that people buy too much vehicle, thus investing way too much for their driving habits.

I bought my current car new 6 years ago and frankly made out like a bandit because it is an EV plug-in hybrid and I drive a lot for work (thus reimbursed miles). The government also was giving out tax credits like candy. It held its resale “value” even better than expected, due to being relevant tech.

 

[nicksaiz65]

Interest rates are higher on used cars. I think the issue in America is more that people buy too much vehicle, thus investing way too much for their driving habits.

I bought my current car new 6 years ago and frankly made out like a bandit because it is an EV plug-in hybrid and I drive a lot for work (thus reimbursed miles). The government also was giving out tax credits like candy. It held its resale “value” even better than expected, due to being relevant tech.

How have you felt about recharging your vehicle?

I had some interest in an electric one. But, the main turnoff for me was that charging stations aren't common enough for me, when there's a gas station on every corner.

 

[EyeBRollin]

How have you felt about recharging your vehicle?

I had some interest in an electric one. But, the main turnoff for me was that charging stations aren't common enough for me, when there's a gas station on every corner.

I have a plug in hybrid. I charge every night at home. If I’m away from home and the battery runs out, the gas engine turns on and it drives like a conventional hybrid. Think of it as a Tesla in town and a Prius on road trips.

 

[BillyPilgrim]

I have a plug in hybrid. I charge every night at home. If I’m away from home and the battery runs out, the gas engine turns on and it drives like a conventional hybrid. Think of it as a Tesla in town and a Prius on road trips.

So extra slow on the highway and extra hot in the city huh?