Is Buying A New Car Better Than Buying Used Because Of The High Prices?

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[srdjr]

If a new car costs less than a used one, it's a no brainer. The guy has a brand new truck that will have zero repair costs and minimal maintenance costs for the next three years, he made the right move. If he bought an older truck he wouldn't have received a significant enough discount to offset the cost of likely repairs and maintenance. Ordinarily, I would agree with Dave about buying used rather than new but the vehicle business is topsy turvy right now. Dave's biggest weakness is unwillingness to shift strategy in a changing world. When mortgage rates were 12%, it made perfect sense for a 30 year old to pay extra each month. With 3.5% rates, paying extra is foolish when you can invest and earn 10%.

[libertyor]

A 10 year old truck with a 150k miles is 35k today. I think he made out just fine on this one.

[jonathanhayes]

The problem is 10 year old trucks with 150k miles on it still cost 20k +. I wouldn’t of purchased a 55k truck myself, but I’m almost at the point where I do believe buying something new is going to give you a lot more longevity than something used.

[LegalMind-dswr]

$50k to $0 in five years? Way to exaggerate Dave lol. And he didn’t address the fact the used truck was more expensive than new.

[erichughes]

Dave’s response to this proves either he really is out of touch living in his rich man bubble that he doesn’t know what’s going on on the real world or proves that he just can’t admit when the advice he’s started giving out 20 years ago just doesn’t apply today.

[PaoloNYC]

So Grandpa died and left a million dollars in assets. Grandpa could have enjoyed that money himself. Who got it? It’s all perspective. You’re not taking any of it with you, so enjoy the truck.

[ew]

You paid cash, paid less, you know it’s history. If you plan on driving it until it doesn’t drive anymore, I say don’t worry about it and try not to do it again in the future

[bChipps]

Just bought a Tacoma. Been shopping for months and not having good luck. 2016s with 60k miles going for 39k. Finally went to look at getting a new one and same trim level brand new is 36k. Let you take your guesses which I went for.

[danielmaldonado]

That guy made a great decision by buying a new car at the same price of a used car and ones again Ramsey did not pay attention to the scenario presented to him. Inflation is out of control and all this used car prices are skyrocketing . If he paid cash, he made a good decision.

[milannafritz]

$50k for a vehicle just boggles my mind...

[kimberlyish]

I heard on the news the other night that used cars are going for the same price as new cars (if not more), because of the pandemic and production issues. I think that's ridiculous.

[invinciblemario]

if we’re being real the truck isn’t going to go down in value like dave thinks anytime soon.

[thullraven]

He bought a new vehicle with all the new vehicle warranties for LESS than any used vehicle of it's type. If he needed the truck, it was definitely the right call.

[bmmk]

UGH! Dave's fundamentalism kept him from listening to the question! The dude spent the same for new as the used would've been - why wouldn't you take that deal?! He and George heard "NEW" and they stopped listening...

[Flagrum]

If he needed the $50k+ Sierra for business or towing stuff then he made the right move. Used vehicles right now are going for stupid prices, especially pick-ups with little or no warranty left. He has a full warranty and Insurance so he is covered buying new. If it was simply for transportation he would have done better buying the new Ford Pickup called the Maverick. Brand new with full warranty its $20k or so. My present vehicle I bought new back in 2005 and paid 26k for it. Its still my daily driver and runs mint due to good maintenance. I expect several more years out of her atleast.

[Ali_UsedCarBull]

He will be alright . What’s the point of buying used when new was less

[sarlee]

dave’s knowledge about cars in 2022 is like a pc running on windows 95.

[skibum]

I'm usually on board with Dave but I'm looking for a truck like this right now too and the used ones are the same price as a new one. When that is the case why pay the same for used truck with no miles and all the warranty as opposed to a used truck with 30k miles on it. Right now is a strange time for vehicles.

[erickisel]

The ONLY mistake you made was buying a GM product….

[juanr.]

His advices sometimes are unrealistic in the real world. Who cares if the value goes down. I rather be happy having what I want than being miserable knowing you can buy what want. Don’t get me wrong, save, invest and be responsible, but at the same time live life!!!!