Quote:
|
Originally Posted by Harrison
From what I undertand, you buy a new car right? I think buy a new car is not the correct way to manage your money in personal finance. Just my personal opinions  |
The OP said, " we probably will be buying another used car for $20000 loan." So I think they meant "new" as in new to them, not brand new.
I agree with you, though, that buying a new car isn't generally the way to go. And taking a $20,000 loan to buy a car, new or used, absolutely isn't the way to go. If you need to borrow 20K to buy a car, you are shopping well out of your price range. There are loads of quality used cars costing far less than that. In fact, there are plenty of new cars that don't cost that much.
The OP did say they paid cash for the "new" vehicle, so no additional debt there which is the way to go.