Buying a Car {Family Money Minute Radio}

by brenna

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Buying a Car


October 2, 2014: Buying a Car

One can argue as to whether or not you actually need a car. But for the sake of this discussion, let’s say your family needs at least one car to get back-and-forth from work, school, etc.

Not only is a car one of the most expensive purchases you will make in your life, but it is also one of the worst investments because it depreciates so quickly. Because of this depreciation, it makes the most sense to buy a car that is one or two years old to maximize your money.

And don’t rely on financing offers. You would be better off putting that money in the bank and earning interest on it for five years and then paying in cash for a car rather than making car payments for that same period of time.


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