Buying New VS Used Cars

From Prison to Multimillionaire
Over 40+ Millionaires created

[sbacon]

This is some of the worst advice I've ever heard. There's no way this guy doesn't work for a dealership. Buying a new car is the worst financial decision you can make.

[zipit]

Where can I find a new Camry for $25000?
No maintainance for 10 years!! It will be worth only 5k after 10 years. All your numbers and assumptions are way off, unless you want to keep people in debt.

[Elmo_Fuddleputt]

No maintainance for 10 years, eh? That shoots all kinds of holes in this guys expertise.

[SilverWealth_Draper_Mint]

Great advice. Not to mention driving an old unreliable car

[liemdinh]

This is one clueless car guy giving car advice! 😂😂😂😂😂😂😂😂

[craneguru]

You heard it here 1st guys! A new car doesn’t require maintenance. I learn something new everyday.

[BIGMANMUSIK]

Maintenance is not that high if you have a good trustworthy mechanic. 😂

[sethcampbellmusic]

Did the auto manufacturers pay you to say this? My old Honda is doing just fine.

[HiroProtagonistak]

Who let their drunk uncle make videos.

[bulgaria]

After 10 years that new car has depreciated 70% 😂

And you still have to do maintenance on the new car. LMAO

[holgerviel]

No! No! No! There's so much wrong with what he's saying. I'll bet my bottom dollar that this slick talker is a Toyota sales representatives. Where does he get all these fictional numbers from? A used $10k car that's been taken care of doesn't need $2k in maintenance per year. A brand new car for $30k and holding it for 10 years without any maintenance? You'll have some major issues without any maintenance! What is the probability of not having a breakdown within 10 years? Spending $10k in maintenance and repair costs within 5 years? The only thing he got right that a Camry is in fact a really good car. A Camry Hybrid is one of the best cars you can buy according to Consumer Reports. "Let's say..." it's definitely not cheaper to buy a brand new car and you'll finance $30k plus taxes and fees for 72 month for currently between 5.07% to 14.18% depending on your credit...he never mentions that part does he? So, he's a slick talker for some gullible car buyer. His simple explanation doesn't make sense at all. Just get a good used Toyota Corolla or Camry or a Lexus ES300 or something similar. You'll be better off than buying brand new.

[GoldPartyHat]

Have a 2002 toyota highlander. Got it for 4k. Nothing but general maintenance. Bought full set of tires once, brake job once and the rest oil changes. Never broke down yet. Went from LA to Vegas and to the beach all the time no problem. Pay 70 bucks a month in car insurance. 60 bucks a week for gas. An oil change every 4k miles or about 4 months 60 bucks. Even if i had to rebuild the transmission or engine would cost a couple grand then would last another 10+ years. What prevents me buying a new car despite its reliability, warranty, fuel efficiency is the price of the vehicle, interest rate, and insurance. Just the insurance alone cost more than my maintenance on my beater toyota. My old toyota has been reliable and keeping me debt free allowing me to invest more in real estate. A new car is nice but is only a liability not an appreciating asset.

[jojag]

Did this guy really just say that a 10yo car would only depreciate 33% and require 0 maintenance?

Genuinely some of the worst advice I've ever heard.

[mr.supergorrillaman]

You're better off trying Toyota & Lexus used 1990s -2010s Toyota 3.4 V6 engine last a long time, Toyota and Lexus partnership with Yamaha V8 engines, 4.0 V8 engine, 4.3 V8 engine, Lexus 5.0L F Sport V8 engine, Toyota I Force 4.7 V8 engine, I Force 5.7 V8 engine, Toyota has highest resale value used car market, second Honda and Acura with very reliable cars and SUVs and pickups truck, next looking for used cars market Toyota and Lexus, Honda and Acura reliability from A to B every day for work or School, your won't be in auto shop.

[paulkica]

No just twice the price after interest 😂😂😂

[Jose-cfxz]

If you are spending 2k a year on repairs and maintenance, it should not cost you 10k. This is a load of bullshit

[davomar]

Have a Mazda 3 2008 that I got for $1000. Maintenance of about $300 a year. I’m happy as can be

[Nman]

So wrong it’s funny. New cars are always a bad decision.

[SouthpawTruckingLLC]

No maintenance in 10 years??? Hello? Oil changes, tire rotation, tire replacement, and more. There is still maintenance on a brand new car. And you can't find a brand new car for less than $45k

[FreddyFermin]

I can pay more for a used car just to not step inside a stupid dealership