Moving soon from a VHCOL city where I haven't needed a car, to a "merely" HCOL city where I will need a car. I will be primarily working from home for the foreseeable future so I don't want to spend a ton of money on a car I'll mostly use on weekends and for nearby errands.
I'm fortunate that my VHCOL-based salary will move with me and I don't have a ton of other expenses. While I don't think it's necessary, $500/mo car payment (plus insurance and gas) wouldn't break the bank. That seems like an awful lot of money for something I'd only use a few times a week though.
I have excellent credit and some cash savings so I'm not worried about the cost of financing (or maybe even paying for it outright), so much as not overpaying but also not buying a total clunker. I just need something to drive around town for groceries and the occasional weekend trip.
On the other side - given the crazy market right now, does it make sense to look for a late-model or an older used vehicle? How much should I expect in savings on a 3-5 yr old sedan vs a 5-10 yr old sedan vs a new one? What's the ballpark to pay for a "normal" car, anyway (I realize this is a horribly broad question)? I'm really not even sure where to begin.
Submitted September 05, 2021 at 10:36AM by snowypotato https://ift.tt/3BL8WQ0
