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Chapter 13. Your New Car—Lease or Buy? > Do You Really Need a New Car?

Do You Really Need a New Car?

In your quest to take charge of your finances, this is the first question you should ask yourself. A new car is a major purchase and will put you into debt for several years, at least. It’s easy to get excited about a new car, and people can come up with all sorts of justifications for the purchase:

  • I deserve it.

  • My old car isn’t reliable.

  • I should buy now before prices or interest rates go up.

  • My friends all have new cars.

  • New cars are safer than old cars.

  • It will help my image at work.

  • New cars sure smell good!


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