I am currently in the market for buying my first car. For a used car (toyota) I have seen cars which are atleast 9 to 10 years old having around 110k to 120k miles and are selling for atleast $15,000 (excluding taxes). The new car which I can buy is a 2023 Mazda CX-30 with a MSRP of $27,500. What should I do? Thanks!
Well a good used car is the best choice for first car because not only they cost a lot less to buy, but cheaper to insure and little to no depreciation. Even a 10+ year old Toyota and Honda have tons of life left while being cost less but have a good mechanic to check it out first before buying (Don't buy from dealerships). I wouldn't buy any brand new car it's a waste of money that it's going to depreciate anyway and expensive to insure. If you like the idea of new car smell, modern looks, more technologies and luxuries and if you can afford it go ahead it's your money.
