It seems like most are more apt to buy the new car even when the old one is still doing the job than put the money away for their rerirement.
2006-12-29 13:20:59 · 12 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
put the money away. cars depreciate in value and you won't get the money back.
2006-12-29 13:52:04 · answer #1 · answered by jurema 2 · 0⤊ 0⤋
I am a strong believer that the futur is a very important aspect of life but a recent and most sudden death in the family made me realize that the futur is not so much important as the present is live life to the fullest and always make the most of it because you never know when your time is up so why save up for a retirement that may never come.
2006-12-29 13:40:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A new car is always tempting, but I don't see why you can't plan to do both. Put a percentage of everything you earn towards your future retirement. After you have you future and your present day bills taken care of, start putting money away for that new car you want.
2006-12-29 13:37:01 · answer #3 · answered by unclelarrysbusiness 2 · 0⤊ 0⤋
We always keep our cars long after they are paid off and save the money instead. If the repairs start to mount up- we buy a car- but never NEW- we go to Car Max. They have the best used cars period.
2006-12-29 13:24:23 · answer #4 · answered by Mommyk232 5 · 1⤊ 0⤋
Money will grow if saved or invested, but a new car will cost you money each month, is at risk of being destroyed or in need of repair, and depreciates in value... more than you owe on it. If you car works fine, continue to drive it and save your money. Dont buy a car to improve your image!! Too many people do.. and they are broke!
2006-12-29 13:33:26 · answer #5 · answered by erok2020 3 · 0⤊ 0⤋
i imagine your perfect wager might want to be a cutting-edge used vehicle, quite than a sparkling one. verify out customer comments' Used motorcar handbook at your nearest public library and locate a vehicle you want that has a strong reliability score. enable somebody else pay the large depreciation of the first 2 years, and delivers your self a even as to pay your debt load down earlier you try for a sparkling vehicle. A 2004/05 Toyota Camry can be a strong wager. be particular to call your insurance agent and get a fee on the peace of mind earlier you register the dotted line! it would want to be very unlucky in case you receive a vehicle that you may want to easily really make the funds, yet then your insurance finally ends up being the funds-buster. it takes position!
2016-12-01 07:53:18 · answer #6 · answered by ? 4 · 0⤊ 0⤋
putting money away for the future. A new car is only new until you drive it off the lot, and then the depreciation sucks.
2006-12-29 15:27:26 · answer #7 · answered by mewm172 2 · 0⤊ 0⤋
I would do neither. I prefer to invest my money so that it is working for me. I don't want to be working after I retire which is why I am working on getting a good positive cashflow. I think it's stupid to go out and buy a car just because you want "this or that". Take for example one of my former soldier's, he got a 22G bonus for reenlisting and blew it on a new truck instead of investing it and getting a worthwhile profit on it. BTW, he already had another car that was already paid for. Ridiculous.
2006-12-29 13:31:00 · answer #8 · answered by TioDice70 3 · 0⤊ 0⤋
Putting away money for the future.
Earlier this year my husband wanted to buy a newer car for me(a 2005 Saturn). I told him no thanks...I wanted to keep my 1998 GMC Jimmy. Not only is it paid for....I happen to LOVE it and have no desire to part with it!!
2006-12-29 13:30:55 · answer #9 · answered by TexasRose 6 · 1⤊ 0⤋
Id rather save for the future and invest it in stuff (cd's savings bond ) etc then a new car. even though a new car sounds tempting it could wait
2006-12-29 13:43:49 · answer #10 · answered by Anonymous · 0⤊ 0⤋
Saving money for future
2006-12-29 13:28:23 · answer #11 · answered by santhosh k 1 · 0⤊ 0⤋