New cars lose something like a quarter of their value when you drive them off the lot. Why would anybody buy a new car?

The reason I hear most often is "hassle free". And it's true. Most people driving cars less than 5 years old have few problems.

But not all. Consider the Troubleshooters.Com reader whose sports convertable was trashed by a left-off oilcap followed by an irresponsible steam clean. As webmaster of Troubleshooters.Com, I know that lemons happen. And car companies are less than enthusiastic about helping those poors souls with lemons. Unlike a cheap used car, you can't just wash your hands of a lemon -- you'll probably be paying it off for the next 2 years.

And then there's the expense. I heard a radio consumer advocate mention that if you keep every car for 10 years you can retire something like 5 years earlier. If a middle class person drives new cars all the time, something's got to give. Maybe it's a smaller house in a worse neighborhood, or less free time as both spouses work overtime, a worse school for the kids, or working past age 75. Something's got to give.

Contrast that with the person who picks his used cars well, and has a great mechanic. Depending on just how used the car is, he probably spends $500-$1500/year on repairs and maintenance. But as the car ages he saves several hundred by waiving comprehensive collision insurance. And let's not forget that his original purchase was between one and twelve thousand, instead of sixteen to thirty two thousand.

If you like new cars that's fine, but buying new cars to avoid repairs is just throwing money at the problem.