Current Events > I need a new car and I basically have no idea what I want to do.

(+) Yeah! (+)

Who's good at financial decisions?

My fiscally responsive, allergic-to-debt brain says don't get any loan, get an absolute banger and buy it outright, live with the crappiness of it.

My likes-to-have-a-nice-life brain says just get something financed and accept that you're just renting cars from now on.

My maybe-sensible brain says split the difference and get a 7k loan and buy something decent but not new, but I'm still scared of owing money on something that can break.

For context, I was spoiled with my last car. It was a luxury model VW Passat estate from 2008 that had nothing wrong with it (until it did), and I bought it outright for 1200. So I spent years with this really nice car that cost me nothing and now I have that impossible standard in my head.

I always do those lease purchase things.

Keep the car for 3-4 years, give it back and get a new one. That way I don't have to deal with any crap and you get a lovely new car with updated spec.

Not the best value financially, but very convenient and easy to budget for, as you don't get any nasty surprises (like suddenly having to buy a new car).

The "boogeyman" that is debt is causing people to actually make more static, short term financial decisions. debt is ok. if you ever want to own a house, debt is ok. liquid cash that can be invested is better than dumping all that money into an asset like a car.

typically, when you buy a car, "breaking" is covered by warranty for the first little bit. It's wise to have robust insurance on it -- comprehensive, collision, etc.