Comments on: Chrysler to Offer Special Car Discounts http://www.primeratecredit.com/2006/06/25/chrysler-to-offer-special-car-discounts/ All About Credit : Credit Cards, Loans, Getting Great Interest Mon, 08 Sep 2008 04:50:26 +0000 http://wordpress.org/?v=2.0.2 by: Rick http://www.primeratecredit.com/2006/06/25/chrysler-to-offer-special-car-discounts/#comment-44 Fri, 30 Jun 2006 02:38:56 +0000 http://www.primeratecredit.com/2006/06/25/chrysler-to-offer-special-car-discounts/#comment-44 Buying a new car is rarely a good thing. The reason for this is that it devalues so fast. I have a comparison for you. My brother buys a new car every 4 years @ 40k (30k 8 years ago). When he dumped that first new car it was worth 12k. During that same time I've driven my paid off 16 year old car. I've spent only $2k in repairs over 8 and bought my car used for 12k. My car today is worth 2k...my brothers is worth 20k. I've spent 14k total +gas, he has spent 38k (depreciation) in the same time. We both earn about the same yet I have more in savings because of things like this. Just something to think about. Buying a new car is rarely a good thing. The reason for this is that it devalues so fast. I have a comparison for you. My brother buys a new car every 4 years @ 40k (30k 8 years ago).
When he dumped that first new car it was worth 12k. During that same time I’ve driven my paid off 16 year old car. I’ve spent only $2k in repairs over 8 and bought my car used for 12k. My car today is worth 2k…my brothers is worth 20k. I’ve spent 14k total +gas, he has spent 38k (depreciation) in the same time. We both earn about the same yet I have more in savings because of things like this.

Just something to think about.

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