QuestionHi Ray - So here is my issue. I am buying my first car, I have graduated college and finally I am making enough money to handle a decent car payment and have a good amount of savings. I have had my heart set on buying a luxury car used. I have been looking primarily at '07/'08 BMWs, Audis, and Acuras. I've found some really promising used vehicles but now I'm being convinced by family and friends to go new. I'm unbelievably confused about this purchase and its probably the biggest financial decision I've ever made, your help will be truly appreciated.
AnswerHi Madeline,
You got classy taste, I see your question from two perspectives.
NEW,,, Some people buy for reasons they have reached other goals in life and can now afford , if you fit into that category having graduated and a secure workplace with no other monetary goals in mind for the next few years making payments,,, go for it, but keep in mind the depreciation factor the first year can be up to 30% from what you paid out the door
USED,,, With your luxury taste buds you could get one of these vehicles being 2 or 3 years old in mint condition - low miles a warranty still in place, and save thousand of dollars in payments.
Let's start the ball rolling by narrowing the selection down to one,,, Test drive all 3 brand new, and get back to me with choice, and we will compare savings buying used " salespeople are trained to sell you on the spot " you must walk away " OK "
Find the time to study my website for some pointers, it will give you a head start learning the buying process http://www.usedcartips.org/
Ray
