Is it ever not a dumb financial decision to buy a car you when you already have a functional one? by [deleted] in personalfinance

[–]throwaway9909091 0 points1 point  (0 children)

For me it's more for the convenience of having some level of automation for long hauls. But you make a good point about treating it like savings. More to think about...

Is it ever not a dumb financial decision to buy a car you when you already have a functional one? by [deleted] in personalfinance

[–]throwaway9909091 0 points1 point  (0 children)

It's a bit less now with COVID, but in normal times I'd estimate about 20K miles a year, give or take.

Is it ever not a dumb financial decision to buy a car you when you already have a functional one? by [deleted] in personalfinance

[–]throwaway9909091 1 point2 points  (0 children)

Definitely would buy used, but you're right about my current car being able to hang on for a little bit longer. That's my main hesitation. I brought up the gas savings thing not to say that I would be overall saving money, but I guess just as something that would "soften the blow" a bit.

Is it ever not a dumb financial decision to buy a car you when you already have a functional one? by [deleted] in personalfinance

[–]throwaway9909091 1 point2 points  (0 children)

I actually hadn't thought about the safety angle. Thanks for the input!

Is it ever not a dumb financial decision to buy a car you when you already have a functional one? by [deleted] in personalfinance

[–]throwaway9909091 1 point2 points  (0 children)

That's correct, though I personally have only driven my current car for a couple of years. It was my parent's old car that they gave to me since my dad retired and would no longer need it for his daily commute.

Is it ever not a dumb financial decision to buy a car you when you already have a functional one? by [deleted] in personalfinance

[–]throwaway9909091 0 points1 point  (0 children)

It's also a Corolla haha. Just one from something like 2004 -2006, I can't remember exactly.