New car for me this weekend.

[GhastMaster]

Because I can in fact, afford it. I did consider purchasing a used one, but decided against it in the end for a few reasons.

1. The KIA warranty of 100k miles/10 years is the best on the market. However, that warranty only applies to new vehicles - it unfortunately doesn't transfer over to used vehicles. Sure, I could have purchased a different make w/o having to worry about the warranty, but doing much research, my wife being very happy with her Kia Soul, and with test driving the Sportage, I knew this was the vehicle for me.

2. I have never owned a new vehicle before, and really wanted one this time.

3. It could just be my paranoia from previous bad experiences, but I am afraid whenever I buy a used vehicle, that I am buying some other persons previous "problem". It's probably an unwarranted/irrational fear, but after my last car and all the problems it had, I can't help but feel this way.

4. Finally, the inventory for used Sportages (at least in my area) is very, very low. In fact, the used inventory for most Kia's in general, in my area, is quite limited. Kia makes really good cars now that are relatively affordable, so the owners tend to hold on to them, thus making the supply of used Kia vehicles limited.

Sure, having a higher down payment would have been more ideal, but life happens.

I'll assume for the time being that you did not get a loan in lieu of paying cash just because you like loans.

I thought getting a loan meant a person could not afford something. Hence, when you "purchase" a car with a bank loan, they have a lien on the title. You can afford payments, but who knows what your future brings.

Answers #1 & #3 are basically the same. #1, #3 are cash flow issues. You needed a loan because you did not have the cash to alleviate your concerns. In scenario #1 the cost burden is up front and priced into a new vehicle which is easier to finance. Regarding #3 you essentially warranty a used vehicle yourself with cash in the bank. #4 is a great answer if you have cash. The over leveraged, easy money market has made it too easy to buy a new vehicle though.

I can certainly understand not wanting a car payment (I have to admit, that not having a car loan for the last 10+ years was awesome), but me and my wife are now making enough that we can afford another car payment. And I got the car I wanted, brand spankin' new, in nearly the color I wanted (mineral silver, which was my second choice after the dark metallic grey, followed by black as my 3rd choice), for a GREAT price, so having a car payment will be worth it to me. Plus, I drive 22 miles each way to work, so its highly important I have a good, reliable working vehicle. With a new car, I have that peace of mind. And, it will be an awesome vehicle for when me and the wife take vacations or road trips :-)

@Kandrathe, thanks. 100 miles round trip you drive to work?? Yikes. That's....ALOT.

Man, driving to and from work today, I was on auto pilot :-D When my wife bought her Kia Soul new back in 2016, she had "buyers remorse" afterward, as some people do after making a major purchase. This didn't happen with me though - I am stoked to be in a new vehicle, and a very nice one at that.

Two car payments? Why in the world would you put yourself at such a risk? Did you not learn anything from the crash of 2008? So many people lost jobs. When that was gone they lost their car and their house. That's not such a huge problem when you pay cash for everything. When paying cash you can mitigate income loss by selling assets.

As good a reason as any. Quality of life. Good for you my friend.

#2 was the worst answer of them all. "Really needed" would have made slightly more sense. I'm to the point now that I don not see cars when I drive down the street. I see loans driving down the street. So many people are over their heads in loans. Purchases like this make me sad. I'm not mad nor do I think less of FIT or anyone who does this. It just makes me sad to see a whole country misguided by government(subsidized loans), banks, and federal reserve(low interest rates). We are encouraged by parties on all sides to make large financial decisions that have led to individual and societal disaster. The same mentality is taking us there again.

I haven't had a vehicle since 1991.

Is this a good thing or a bad thing?

In terms of quality and reliability, Subaru is up there. Almost everyone I know who has owned one has never had any glaring issues even after several years, if ever. Aesthetically speaking, most of them aren't really my cup of tea (the Forester is ok). I prefer the more sporty, aggressive look of the Honda CRV, Rav4, or my Sportage, but vehicle style is completely subjective.

I agree with your opinions on Subaru. I know one person who has a newer model that has not had any issues either. I have a 2001 Hyundai Sonata 6cyl. I did not realize Hyundai was selling cars in the U.S. prior to the 2000's until I read the wikipedia article. They had fixed the reliability issues by the 2000's. I did not realize this back then. The reputation was still bad.