Reply to WaPo -- New cars out of reach for many

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[quote=Anonymous][quote=Anonymous]People who buy new cars are either rich or bad with money. Sometimes both.[/quote]

No---buying a new car and keeping it 10 years is the smart thing to do.  If you buy a used car that is only 2-3 years old, you don't know why it's being sold/what is actually wrong with it and might not find out for a few months. I prefer to buy new and just keep it for years.  
I'm rich but my vehicle is 12 yo.  Love it and would be keeping it but there are a few issues happening (electrical) and the parts to fix simply are not available.  Car is no longer "alarmed" because a bad sensor that costs $800 and cannot be located/no clue how long.  Similarly, the "handsfree" is no longer working and that part is "$1K" and also no clue when it will be available.  So now that we have hit the point where there are many repairs (and no parts), I'm finally looking to ditch the car.  But if those hadn't happened, I would be driving it for another 2-3 years.

Before I was rich, I also bought new and simply kept the car for 7-10 years.  And then sell it for 30-35% of it's original value.

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