Cars depreciate rapidly, and their only justification is what you get out of them during their short life.
Buy the car that meets your basic needs.
The rest is luxury - buy it only if you can afford it.
A growing number of individuals living and working in downtown cores are opting to dispense with a second car, or not to own a car at all. If you only use your car one or two days a week, and have easy access to a car rental outlet, renting is much cheaper. Even at an un-preferred rate of $50 per day, you could rent twice a week for $5,000 a year. Owning a car will likely cost you twice that, especially if you have to pay for a parking space.
Web site content is for informational or illustrative purposes only and is not be considered or used as a substitute for professional financial advice from an accountant, lawyer or certified financial planner. Click here to view our full legal disclaimer.