News Feb 23, 2024 03:30 PM EST

4 Cars Owners Regret: Teslas, Sports Cars, and More

By Isaiah McCall

Don't ever buy a 1968 Corolla.

Mine only has about 1.2 million miles on it and the head gasket blew! It's only 49 years old dammit! Yeah, they really don't make 'em like they used to.

(Photo : Getty Images) Tesla Roadster

That's the problem with cars these days. They just don't make them to last. With all this new technology, it's just a bunch of computers on wheels. You're lucky if your new car lasts 100,000 miles without some sort of major issue.

So before you get caught up in the hype of a new car, let's talk about the top four cars that owners regret.

Any Porsche that's a "fixer-upper"

A Porsche "fixer-upper" is another way of saying "congrats on your looming bankruptcy."

When people buy Porsche or similar supercars, they're buying into an image. They want to be seen as successful and wealthy. They want people to know that they can afford the best of the best.

But what they don't realize is that Porsches are notoriously difficult and expensive to maintain. Even something as simple as an oil change can cost hundreds of dollars. So unless you have a serious amount of disposable income, we recommend steering clear of Porsches.

That goes for all supercars, by the way. They may be fun to drive, but they're not worth the headache (and the cost) in the long run.

Tesla and Other Electric Cars

Tesla is a meme.

When Tesla first came out, they were the new kids on the block. They were shaking up the auto industry with their electric cars and cutting-edge technology. Everyone wanted a Tesla.

But now, Tesla is more of a punchline than anything else. Their cars are overpriced, their customer service is terrible, and they can't seem to keep up with demand. Not to mention, their cars have a tendency to catch on fire.

Moreover, what most people miss about electric cars is they don't have the same power as gas cars. So if you're looking for speed, electric cars are not the way to go.

All in all, unless you're a masochist, we recommend avoiding Tesla altogether.

Until the Cybertruck comes out we're steering clear.

Any car with over 200,000 miles on it

This is a general rule of thumb: if a car has over 200,000 miles on it, it's not worth your time or money.

Cars are like humans in the sense that they start to fall apart as they get older. They need more maintenance, they break down more often, and they're just not as reliable.

So unless you're prepared to deal with a lot of car troubles (and a lot of money), we suggest avoiding cars with high mileage.

This also goes for cars that have been involved in major accidents,  as they may have unseen damage that will cause problems down the road.

Any car you paid well over MSRP

Yes, we realize that right now everyone and their grandma is buying over MSRP for cars. But that doesn't mean it's a good idea. Paying over MSRP is a surefire way to lose money on a car. You're putting all your money into a severely depreciating asset which you'll get used to within a month.  It's not worth it.

If you were smart like Warren Buffett or Dave Ramsey you'd drive a rusted Toyota so that you can put every spare cent you have in crypto and the stock market.

...or you could just buy a Honda. They're not flashy but they get the job done and they last forever.

Final Thoughts

In conclusion, think long and hard before you buy any of these cars.

This is easily one of the worst periods to buy a new car in recent memory. With a weak economy and an overinflated car market, people are defaulting on their car loans at an alarming rate.

So unless you're absolutely sure you can make your payments, we suggest holding off on buying a new car.

Thanks for reading!

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