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Buying a new car is the worst financial decision


After a year, the car is worth 20-30 percent less, says Bach

This American writer, entrepreneur and motivational speaker, known for being the best seller of "Auto Millions", believes that buying a new car is the financially worst decision we can take & # 39 ;.

The moment you take your new car out of the store, it has already lost a significant part of its original value – declares BH for CNBC.

For a year now, your car is 20-30 percent cheaper than the original price, and in five years the depreciation is 60 percent or more.

David Bach finds it the worst of all that most people borrow money (borrow credit) to afford a new car.

Why not borrow money at all to get a property that loses almost 30% of its value almost immediately?

Buyers who want to buy a new car therefore advise Bah to choose a lease car at the age of 2-3 years. According to him, such a car is "almost like new" and you can buy it for a price that is 30 percent lower. David Bach also advises customers to calculate his annual costs before buying a new car.

Do not just focus on monthly reimbursement costs (if you buy a loan), but see how much your car costs annually, including insurance, fuel costs, regular maintenance, and so on.

Ford Media

Bah also declares that the calculated amount, which the owner must distribute for his vehicle for one year, is compared with his monthly income and he asks himself whether he really needs a car that costs as much or costs a bit cheaper, perhaps one little older, but who is still in good shape?

Despite all the arguments that David Bach has put forward, many buyers (mainly in countries with a high standard) choose to purchase a new vehicle, which in the end is good news for those who follow the logic of this financial guru and the same car. s after 2 buy. -3 years as preserved halves.

In the comments you can give your opinion on this subject. Would you, if possible, prefer to buy a new car or a young half, which would give you considerable savings when purchasing a vehicle?

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