July 5, 2019

10 Money Mistakes You’ll Regret in 10 Years

© Debt.com

Buying new when you can buy it used

Cars, yachts, RVs, electronics — these are just a few of the large purchases that lose value quickly. A new car loses thousands of dollars in value before you even get it in the garage.

Sure, new should mean reliable. But it’s a really expensive shortcut, especially if you take out a car loan.

How to avoid it: Most things lose value over time, but usually, the rate is fastest when they’re new. Waiting a year is usually enough time to get long-lasting value — especially if a new version has come out since then.

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