Saturday , July 31 2021

Buying a new car is the worst financial decision



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After a year, the car is worth 20-30 percent less, says Bach

This American writer, entrepreneur and stimulating speaker, known for the best seller of "Auto Millions", believes that buying a new car is "the worst financial decision we can do."

– – And encourage you to take up your new car of sales salons, it has already lost a significant share of its original value – explains BH on CNBC.

– – Already a year, your car is worth 20-30 percent less than the initial price, and within five years, the drop-in value is 60 per cent or more.

David Bach is of the opinion that this is the worst of all the most people lend money (take credit) to afford a new car.

– – Why would you lend money at all to get some property that loses up to 30 percent of its value almost immediately?

So, buyers who want to buy a new car, Bah, recommend that they choose a leasing vehicle between 2 and 3 years old. According to him, such a car is "almost as new" and you can buy it at a price that is 30 per cent lower. David Bach also advises customers to calculate their annual costs before buying a new car.

– – Do not just focus on monthly repayment costs (if you are buying a loan), but look at how much your car costs on an annual basis, including insurance, fuel costs, regular maintenance, and so on.

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Bah further added that the accounting amount, which the owner must allocate for his vehicle for one year, is compared to his monthly income and asks himself to himself if a car is required They cost so much annually or can take it somewhat cheaper, maybe a bit older, but who's still in shape?

Despite all the debates David Bach has made, many buyers (mostly in standard countries) choose to acquire a new vehicle, which is ultimately good news for those who follow logic This financial guru and buying the one is after 2 -3 years as reserved acres.

In the comments that you can give your views on this topic. Would, if possible, prefer to buy a new or half-car car, which will bring you significant savings when buying a vehicle?


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