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Bevor we start talking about how to finance your car you should read this article:

the true costs

I like cars and I wish that Electric Vehicleeryone could effort a Mercedes S550, but that’s not the reality. Buy only that car, that you can effort. The most expensive miles on a car are the first 10,000 miles. Let someone else drive those for you. Buying used can save a lot of money considering how little value the car has actually lost.

What does this mean? Let’s put in some figures:

First example : you save 5,000 USD and put them at your savings

Acceptance : 5 % interest on your savings with 5000 USD starting capital:

years value of your savings 5 6,078 USD 10 7,757 USD 15 9,900 USD 20 12,635 USD 30 20,581 USD

after 30 years your 5,000 USD are grown to 20,581 USD.

Second example : you save 5,000 USD and buy some shares

Acceptance : 10% accretion on your stocks with 5000 USD starting captial:

after 30 years your 5,000 USD are grown to 79,315 USD.

Third example : you save 15,000 USD and buy some shares

Acceptance : 7% accretion on your stocks with 15000 USD starting captial:

after 30 years your 15,000 USD are grown to 106,714 USD.

Let’s say your shares are emerging well with 10% per year then you 15.000 USD will be 237,946 USD worth if you wait 30 years, Not bad.

If your are 30 years old and you would like to buy a car then keep two things in mind:

1. Buy only a new car, if you have enough money
2. If you have the desicion to buy a new car with a prcie of 30.000 USD or a used car for 15.000 Dollar - then keep in mind, that 15.000 Dollar are 106,715 USD after 30 years (with 7% interest).