I agree, the depreciation the first few years is rough. I actually bought a new car about 2 years ago, but that was because I bought my car in the Gulf Coast area about 3 months after Hurricane Katrina. There was a lot of fraud going on with used cars at the time, and the value of used cars went up dramatically because so many people had to replace damaged vehicles. At the time, buying new was a better option for me. My next car will be used though!

Don’t worry, I told myself, the insurance will reimburse you for it. Imagine my shock and bitterness when they cut a check for 8 thousand dollars. What am I going to replace my car with for 8 thousand dollars?

I lost 45 percent of my money because of some moron driver didn’t pay attention to where she was driving.

Needless to say, it was a learning experience, a humbling experience to realize now I had to buy a used car with what the insurance gave me.