Car Purchase 1

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M Are you starting over financially and have to purchase a car for the first time on your own? 

V We have bought our last 3 vehicles from private owners on Craigslist. Online venues can save you money, but they are not without risk. The two most expensive ways to own a car are leasing and buying new. Leasing has traditionally been frowned upon by almost every financial advisor.  An exception might be if you lease that vehicle through you company.

M Buying a new car gives you reassurance and protection against unknown repairs and a warranty, but the car will lose a significant value when you drive it off the lot.