606 – 655 – 2016-08-16
The one time that comes to mind is when I bought my first car in 2010. I had been driving an inexpensive used car that my dad bought for me as a sort of reward because he ended up not having to pay for my college. I had been out of school for about a year and a half and had a full time job when the old car died. I was like 24 and my family was like “yeah, go buy a new car”. I did look at some low-mileage used cars, but I ended up buying new, mostly because it was super shiny. I don’t think it was the worst decision ever. I’ve had the car for 6 years and it’s been great and I hope to have it 6 more, but I likely won’t buy new next time because of the immediate depreciation once it leaves the lot. I also regret financing half of it and having to shell out the interest and will try to pay upfront for the entire amount next time, which is what we did with my wife’s car a few years ago.