By not purchasing a new truck yesterday, I saved my family thousands of dollars over the life of the loan. While we can afford a new truck, it just is not a smart move.
- My Highlander is good for another 3-4 years of daily use. Considering the 0% financing and the amount of our payment, it is a reasonably low cost vehicle for our family.
- Once the Highlander is paid off, we will probably buy my wife a new, economy car to replace her Prius. The Prius will become my vehicle.
Bottom Line: New Cars are almost never a good idea.