4 of 6 (Maybe) Surprising Things You're Paying Too Much For
By Sarah Fernandez
The old saying goes that a new car loses value the second you drive it off the lot. A car can lose as much as 60 percent of its value in just two years, so why do so many of us buy brand new cars? Sure, the lure of the latest and greatest in new cars is exciting, but it's always exciting to get new wheels, even if they've been used. Buying a car that is just a year or two old with fewer than 30,000 miles isn't that far off from getting a brand new one, except that you'll save several thousands of dollars on it while still getting a reliable car. Buying a slightly older car will also save you money on car insurance since your car's valuation won't be as high.