Do you think buying a new car is a good idea? I am not a fan of new cars. They lose so much of their value over the first few years. They are also ridiculously overpriced. Why pay $20k for a car and pay $500 a month for years on end when you could just buy one for $5,000 or less that will last a long time still? I have only ever bought used cars and I would never buy a new one. I think they are a waste of money and I don't like the idea of having a hefty car payment. I would rather save up and buy one with cash and be done paying for it than have to be stuck in a long cycle of monthly bills for a car that is no longer new.