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Buying a car can be an exciting experience, but it also involves some complicated financial decisions - new versus used, paying in full versus financing, what you want versus what you need. And to make matters even more complex, the price you pay for your car is often determined by negotiation, making it hard to tell whether or not you’re getting a fair deal.
Needless to say, spending a few minutes learning how to navigate the car buying experience can pay off in a big way. Our Buying a Car resources will help understand the total cost of owning a car, how to avoid common mistakes, and how to get the best deal possible.
For most of us, a car is one of the most expensive things we’ll ever buy. But unlike, say, buying a home, a car is an asset that will always decrease in value. So from the start, you know you’re going to lose money when you buy a car. The only question is – how much?
All cars depreciate, so whatever car you buy will be worth less and less over time. But did you know that some cars depreciate less than others? And car ownership costs – from gas to maintenance and repairs – can vary significantly from car to car. Even how you finance your vehicle can either increase or decrease your overall cost.
All of this is why it’s important to think about the total cost of owning a car, not just what your monthly car payment may be. Our Buying a Car resources will help you understand the total cost of owning a car, how to avoid common mistakes, and how to get the best deal possible.
So let’s dive in to all of the financial implications of making this major purchase. Then you'll be better informed and can make the best decision for you.