Buying a car is an investment but it’s a different type of investment because unlike a house, it doesn’t increase in value over time. Anyone will tell you that the second you drive your new car off the lot it’s already depreciated in value. So why buy new? We all want that new car smell or knowing that we’re the first to use it. However, when a used car is as good as new, there’s no reason to go the other route.
If you’re currently in the process of saving for a car, then you’re already on the right path. Even if you haven’t set aside money but know that you need a car because let’s face it commuting in El Paso sans vehicle is quite impossible, you can still take [...]