Buying My First Car: New or Second-Hand?

Dad, look at this! It's brand new, and it's gorgeous.

Wow, it's nice. How much is it, though?

Well... about thirty-two thousand dollars.

Thirty-two thousand? For your first car?

I know, but I've got a steady job now.

Okay, let's think about it carefully, honey.

Are you planning to pay for it with a loan?

Yeah, the dealer offered me a five-year loan.

And what's the interest rate?

Um, I didn't actually ask...

Ugh, that's the first thing you should ask!

A new car loses value the moment you drive it away.

Really? Even if it's brand new?

Especially then. It can lose twenty percent in a year.

Okay, this one's only three years old.

Let's check the mileage first.

It says forty-five thousand miles. Is that a lot?

Not bad at all, actually. About fifteen thousand a year.

But we need to see the service history.

The salesman said it's never been in an accident.

Go on, take it for a test drive.

Wow, it drives really smoothly!

Wait, did you hear that noise when you braked?

Oh no... is that a bad sign?

Maybe it just needs new brake pads.

We'll ask them to fix it before you sign anything.

So they'll replace the brakes and knock off five hundred dollars!

See? That's how you negotiate.

And it's half the price of the new one!

I'm proud of you, kiddo. You made a smart choice.

Thanks, Dad. But you're paying for the first tank of gas!