in my 32 years of life i have discovered that, DEBT is the main cause of my problem, its snot rent or utility, it's that i bought a cheap car a year later of release.
an '18 car and i got it on '19, and i had to learn the hard way that you never buy a current year car, cuz now i see the same car for like 1/4 of the fucking price, AND I STILL OWE.
my next car will be either a five- or ten-year-old car.
Sometimes buying a new car is smart.
Not every car is a lemon, but every lemon is resold in the 5 year old car market. People with good 5yo cars usually hang on to them, rather than eating the huge loss that comes from selling at that stage of ownership.
The discount is steep because the risk is steep, and if you get a bad one, it's an even worse financial problem. It's risk premium.
The extra you spent was basically insurance against ending up stuck with an unfixable mess.
@mikejackmin no, sorry the car had 20k miles in less of a year, i was ignorant to the fact.
@RodrickSage
If you're putting a lot of mileage on your car, breakdowns are a more expensive and more disruptive problem for you than they are for people who use their cars lightly. The reliability premium makes sense.