For most of my adult life, I fell for the adage to get the most out of a car purchase:
“Buy a slightly used car and run it into the ground.”
This sounds like sage financial advice…
But the reality is buying a used car is often more expensive than buying a new car.
I ran cars into the ground twice in my life – driving almost 250,000 miles on each.
Crunching the numbers shows used cars can be more expensive than new cars
I would never buy a used car again.
Because when I arm myself with a calculator, a little knowledge and an open mind, I discovered this:
It is actually cheaper to buy new cars than used cars… especially nowadays.