Why would someone pay $3,154 on interest on a new car loan when they could buy a decent used one for under that amount without a loan (or interest)?

Why would someone pay $3,154 on interest on a new car loan when they could buy a decent used one for under that amount without a loan (or interest)?
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1 Answer

Answer :

I buy new cars about every eight or ten years. I had my share of used vehicles when I was younger and spent a lot more than 3,000 on upkeep, repairs, replacing parts, etc. I have no idea how to work on cars, nor do I want to. When my car starts costing me more than just the usual upkeep such as oil changes, tires, and brakes, then I buy a new one. I have never spent over 18,000 on a new car though.
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