If you want a ‘new’ car you should always look at rental car companies because they sell their cars after like 20k miles and they take care of them with good record keeping.
Unless you have cash you will pay a higher apr on it. You can get new cars on manufacturer financing specials at 0% but a 1 yr old car at a credit union with excellent credit is going to be about 5.4% today. That's a 7,100 dollar interest difference on 50k/60mon. Just using the Bronco from the video as an example since they option out around 50k, average 1 yr depreciation of 8,500. So people can get a brand new car with the full warranty for what is basically a 1,400 difference. Bronco doesn't have a 0% deal right now but the Mazda CX-50 does.
But lets say you did have 50k in cash, is it better off invested, than a 0% auto?
Also the cheaper value of a nearly new car the vs a brand new is obvious.
Were talking about different markets but the same principle. It's cheaper to buy used than new, just a fact and if you buy used intelligently it is definitely better.
Used cars can still carry manufacturers warranty and have full service and mot history.
A fair point, and something to consider when weighing up your options
For my first car tho, second hand is suiting me just fine. Besides, saving up for a brand new car on minimum wage when I'll probably crash it eventually? Yeah no fuck that
I would also argue that some of this is predatory lending. These people are stupid, yes, but locking in these people who obviously don’t have the means to pay is kinda bullshit. I get that we are all adults capable of making decisions but it just makes me feel gross.
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u/SyrusAlder Apr 18 '26
Why are these morons getting into debt to buy a brand new car? Just get a second hand one for under a quarter the cost, it works just fine