Probably the most-asked question right now, as gas prices finally begin to drop, is why used cars cost almost as much as new ones. “Used care prices are insane right now!” a friend told me as we discussed good options for his teenager’s first car. “My first car cost me $300 and was good all the way through college.”
Ya, well, this isn’t the 1990s anymore. My first mortgage was barely $500 a month and that was a decade later. Things are definitely not the way they were. My dad’s stories about buying his first car, cash money, for $3,800 and a first house for $9,000 were, well, unbelievable to me during my 20s in the 1990s when my rent was over $300 a month.
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