Worst Cars To Buy

First of all, avoid any car the first year it’s released. I noticed in the paper this morning that you could lease a new Ford whatever their new SUV/sedan cross is for the same price you lease a Ford Explorer. What fool would buy a new car, before the manufacturer has had a year or two to iron out the bugs? They’re in constant contact with dealers and service departments to find out how their new cars are performing and what customers like and don’t like about them. Give them some time to fine tune the car before buying it for yourself.

Never buy whatever car is super popular. You’ll pay top dollar, and you’ll never get that money back out of it. No car dealer will dealer on a hot car. Why should they, if someone else who’s willing to pay full price will buy it later that day? It’s often hard to find a dealer who even has a hot car on his lot. There’s no way in the world they’re going to give you a price break if they’re the only dealer within 200 miles who has the car everyone wants. And two or three years later, when you’re ready to sell the car, there are enough of them available, and they may no longer be the hottest car, that you won’t be able to sell it for the same top dollar you bought it for.

A car that you only keep for a year or two definitely qualifies as a ‘worst car to buy.’ One study I read found that if a person kept every car they bought for ten years or more, instead of buying or leasing a new one every three years, that they would save $400,000 by the time they turned 65. It didn’t matter whether they bought the car new or used, or what kind of car they bought. It was cheaper–significantly cheaper–to buy it and pay for whatever repairs came up. Cars are lasting longer every year, so it’s possible you could keep your car even longer than ten years, and save even more money. Please don’t be one of those people who buys a new car every four or five years.

Please don’t make the terrible mistake of leasing your next car. Car salesmen can convince anyone that this is a great way to go if you don’t have a lot of money to put down for your car (who does?) or if you want to buy a nicer car that you couldn’t afford otherwise. You can’t afford to lease a car; even Bill Gates can’t afford to lease a car. Please cross leasing off your list of car options. We can’t find anything truly worthwhile about leasing.

Also check our list of worst cars to buy for 2007.