Part I – Economics of buying a Used Car

I bought my car last year in October after a couple of months research. And the views expressed in this article are solely mine that I developed while going through the process of buying my car. I had most of this article prepared by the time I got my car keys, but somehow it never made its way here.

For most of us, the family home is the biggest purchase we will ever make, and the car is often the second biggest, which are known as big ticket purchases. Not surprisingly, this is where the most money can be saved or wasted.

I believe in rational consumption decisions, and those who know me will not be surprised to learn that I have strong opinions on these issues. I believe that buying a new car is a big purchase but a bad investment. So let me explain why.