Pete went to an auto dealer to buy a new Jeep. The salesperson told Pete that ca

Question

Pete went to an auto dealer to buy a new Jeep. The salesperson told Pete that cars really appreciate in value. He cited antique cars as a perfect example. The dealer went on to to tell Pete that buying a car represents some great tax savings. He told Pete that leasing is getting less and less popular.
Should Pete buy a new car? What do you think after reading the content in the chapter and listening to this car salesman? Please no plagiarized answers please Pete went to an auto dealer to buy a new Jeep. The salesperson told Pete that cars really appreciate in value. He cited antique cars as a perfect example. The dealer went on to to tell Pete that buying a car represents some great tax savings. He told Pete that leasing is getting less and less popular.
Should Pete buy a new car? What do you think after reading the content in the chapter and listening to this car salesman? Please no plagiarized answers please Pete went to an auto dealer to buy a new Jeep. The salesperson told Pete that cars really appreciate in value. He cited antique cars as a perfect example. The dealer went on to to tell Pete that buying a car represents some great tax savings. He told Pete that leasing is getting less and less popular.
Should Pete buy a new car? What do you think after reading the content in the chapter and listening to this car salesman? Please no plagiarized answers please

Explanation / Answer

Peter should not buy car if he is purchasing it for the reason cited by sales person as -

1) Cars never appreciate in value. They just depreciate with each passing day due to wear and tear. Earlier, antique car was there which are now sold at high prices but now with mass production volume of cars and wide availability, it will be very rate for car to be sold as antique car in future.

2) There is no great tax savings if the car is purchased by individual for non business purpose. They need to rather spend on interest paid on loan taken and maintenance.

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