Why you should never buy a new car

One of the worst financial decisions one can make is to buy a brand new car. Controversial statement? Maybe. But read on for the case against buying a new car.

Front-Loaded Depreciation

According to Edmunds, the value of a new car depreciates by an average of 11% upon driving it off of the lot. Think about that for a minute. You are on the hook for the $40,000 (for example) you just borrowed to finance a car that is now worth no more than $35,600. You have not even made it home yet, and you are in the hole by $4400. You could used trucks for sale in North Carolina have taken a pretty nice vacation, cruise, etc. and covered ever