“Buying a new car is the worst financial decision millennials will make” is what one famous financial author, David Bach, says. The car’s value decreases by 20 to 30% the first year and, in five years, it can lose 60% or more of it’s original value. Here is a visual example below.
In my early 20s I remember watching an interview of millionaire, Clark Howard. He drove a used Toyota Prius and bought his sweetheart’s engagement ring at Costco whole sale store. I was really fascinated with this guy’s financial decision to purchase a used Toyota Prius. Now that I have a family of my own I understand the importance of making good financial decisions. I purchased a brand new Mazda right after my wife and I got married. I remember being worried of scratches and dents. I often parked away from other cars. Now that I own a used car I don’t worry as much about scratches and dings.
So, the question is which car should I buy? Well, according to Clark Howard these are the top 10 cars that will almost certainly last you more than 200,000 miles or 322,000 km. Keep in mind to change your fluids and filters regularly and you should be able to get the most out of your car and save thousands!
9 out of 10 are Japanese made cars. One of the best places to get your Japanese made cars is from Japan. Why? Because almost every car from Japan has been through inspection. In order for cars to pass inspection their components must be in good working order. This means that the chances of you buying a lemon is very slim to none. Every car that is sold at the auto auctions in Japan are inspected and have an auction sheet with a grading system on it. If you read Japanese you will have no problem reading the auction sheet below. For those who do not read Japanese, Provide Cars Ltd. offer free translation and advice to members to help you make good choices on which cars to buy.
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