A car is a major purchase, and it’s one thing we think you should always buy used. As soon as you drive a new car out of the dealer’s parking lot, it starts to lose value.In fact, by the end of your first year of car ownership, a new car will have depreciated in value by around 20-30%.On the other hand, most used cars are in great shape and have almost as many bells and whistles as their brand new counterparts.We recommend paying cash for all your cars and purchasing a car that’s at least three years old. This will ensure you get the most bang for your buck, and you won’t be stuck having to pay any interest payments on a car loan.
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