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octotron3000 OP t1_j6jk8xr wrote

Reply to comment by anewconvert in I have a financed car and less than 30 days before navy basic training. by octotron3000

What do you suggest? And also because I was a first time credit user.

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anewconvert t1_j6jnfzf wrote

Not buying a new car, ever. With few exceptions buying a new car is a waste of money. You eat all the depreciation. If you sold that car tomorrow it will have cost you $7000 + paid interest. Even in this market you could have found a used car for $10k that will run for years with minimal maintenance.

Buy used. Let someone else pay the depreciation. A new car is an unnecessary luxury.

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curtludwig t1_j6kfxv4 wrote

Spend half as much on the car with half the interest rate.

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