What makes the most financial sense... buy a used car or "invest" in an older one?

A

Adriana

New member
I'm trying to prove to my husband that it doesn't make sense to invest in a car because you'll never get your money back out of it... cars do not gain value only depreciate, right?

We have a '04 cavalier, and my hsuband wants to put intake valves and all kinds of stuff on it... I think spending money on a car is a waste.

He wants to either buy a used car or "invest" in the one we have. I say, do nothing, and keep the one we have the way it is.

Links to articles about finances and cars and what makes the most financial sense would be appreciated!!
 
Sometimes investing in a older car does make sense. By buying a new car comes higher auto insurance, car payments and service checks to keep the warranty current, This will far exceed what he will put into his personal car to keep it running.
 
a 2004 cavalier depreciates and is a tool, not an investment. it's already lost a lot of value and will lose more as time passes.
spend money on preventive maintenance to keep it safe and avoid big problems in the future, but no extras.
 
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