Hotwheelracer

If I told you I would loan you 35,000 for a car worth 30,000 would you take it? What if the interest rate was .9%?

I hope the answer was no. When you finance a new car that is basically what you've done. The drive off the lot may not be that extreme in terms of depreciation, but you still have financed a depreciating asset that has already lost value. If you buy a $10,000 in mutual funds, they are not worth $8500 right after you buy them.(assuming no crash in the market) You seem to have a good head on your shoulders, and living expenses are always more than we think about. Not knocking new car purchases, it is awesome to get a new car. But unless you are in a financial position to afford it(and I don't mean just having the cash), it almost always makes sense to buy a used vehicle. Just my .02 cents, maybe not even worth that!

a_lopez1975

I would go used. the 2012 GT's are going for cheap right now, so I would imagine you could even get a cheaper deal on a used one (11's or 12's). I bought mines new, but if I could go back, I probally would have bought used. Reading other threads, I paid more for my 2012 than what people are paying now for theirs.......But both my wife and I work and being here in Afghanistan, I had a whole year of my montly paycheck sitting in the bank, unspent. Overall, good luck and if you do decide to purchase a new ride, post them pics

FormlessGT

I would wait for the 2015 so you are less stressed financially. Also, if you don't like the body style, you can always grab a 2014-13 for a cheaper price!

pdonket

Don't get me wrong! I'm not necessarily saying that he should definitely purchase new! It's completely true that waiting 2 years and buying a car then is the best way to save a whole bunch of cash and practically still get the whole life of the vehicle.

What I'm really trying to support is that financing any purchase of a vehicle (new or used), is a good idea if you have the savvy to earn more than the interest rate charged for the financing. Because, although your asset is depreciating, your money is growing while you postpone paying!

Hotwheelracer

No worries, but if you would like to pass on some of those stock picks I would love it! I have two kids and need to fund their college accounts, I can't imagine what it will cost when they start in 10 years.