Kumiko Love Instagram – I always recommend saving as much as possible to pay for a used car.  Whether new or used, a vehicle is a depreciating asset, meaning it tends to lose value over time. Usually, I will tell people to buy a used vehicle over a new one. If you have CASH to buy a new car, whether that’s considered “a bad investment or a waste of money” depends on your circumstances and priorities. If you have the cash to purchase the car outright, and it aligns with your financial goals, lifestyle, and preferences, then awesome. However, it’s essential to consider factors such as depreciation (new cars often lose value quickly), ongoing maintenance costs, insurance premiums, and your overall financial situation. It’s all about making an informed decision based on your needs and financial capabilities. I also get asked a lot if I recommend leasing a vehicle. Typically, I avoid leasing when possible; however, I acknowledge that everyone has different circumstances.  Maybe I don’t like that you’re “renting” a car, paying for the depreciation of the car during the lease term plus interest and fees, and have mileage restrictions.  It’s also important to look at the long-term costs. You might get offered lower monthly payments INITIALLY, but if you lease the car long-term, you may end up paying more in TOTAL than if you had bought a car outright and kept it for several years! #thebudgetmom #budgettips #savemoney #moneytips #budgetgoals #savingmoney #carloans