Are new cars worth it?
Net Net18 Dec 2024

Are new cars worth it?

Lizzy and Lissa break down the hidden costs – financial and otherwise – of new cars. They explore everything from depreciation and financing to insurance hikes and maintenance fees, plus the emotional costs of keeping up with the latest trends. A lot of people prefer to buy used cars but others still prefer that new car smell. What do you think, are new cars worth it?

Main Topics

00:00 Introduction

01:28 Running The Numbers Segment

03:30 Our Car Purchases

09:26 Leasing vs. Buying

16:10 The Emotional and Practical Aspects of Car Ownership

19:32 Cultural and Social Implications

22:53 The Trade-Offs of Car Payments

25:46 Social Perceptions

30:10 New vs. Used Cars

34:05 The Alternatives to Owning a Car

38:04 20 Cents Segment

References for Statistics

https://www.kbb.com/car-news/average-new-car-price-down-year-over-year-for-third-straight-month/

https://www.progressive.com/answers/what-is-car-depreciation/

https://www.bankrate.com/loans/auto-loans/average-monthly-car-payment/?tpt=a

https://www.marketwatch.com/guides/insurance-services/new-vs-used-car-insurance-comparison/

https://www.cnbc.com/select/how-much-does-car-insurance-increase-after-accident/

Co-Hosts

Lizzy Marie, CAIA, is a strategist, alternative investments expert, and a founding partner of Pursuit Funds. Follow Lizzy: Instagram | TikTok

Lissa Lumutenga, CFP®, AFC®, is a personal finance expert and content creator. Follow Lissa: YouTube | Instagram | TikTok | LinkedIn

Credits

► Produced by Lizzy Marie and Lissa Lumutenga

► Artwork by Lizzy Marie

► Music by Lissa Lumutenga, Net Net Podcast “Theme Song”

Talk to us

Hit us up, let us know what you think: IS IT WORTH IT? 💸

Disclaimer

This podcast is for educational, informational, and entertainment purposes only, and should not be constituted as financial advice or any other kind of professional advice. Views and opinions are our own, and Net Net Podcast does not serve as a substitute for personalized financial guidance tailored to your specific situation.

Remember to always do YOUR own research, consult a professional as needed, and feel empowered to make your own decisions!

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