Reported 2 days ago
Financial advisor Dave Ramsey advises Americans against purchasing new cars unless their net worth exceeds $1 million. He encourages buyers to focus on practical needs rather than a perfect vehicle, and to consider financial constraints while assessing options. Ramsey highlights the rapid depreciation of new cars, stressing that opting for used vehicles is often a wiser financial decision. This guidance comes amid rising concerns over auto financing and negative equity in vehicle loans.
Source: YAHOO