- by C.C.
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.