What do you think of buying a new Hyundai accent, kia rio, or ford fiesta as a second car?

My current car is old and falling apart it has rust everywhere and rocker panels are rotted out. So i was thinking about get a new cheap car like a Hyundai accent or KIA Rio or ford fiesta. What do you think? I don't want a big car just something basic to get me around.

One person owning two cars is a waste of money. If one of those models suits your car needs then go for it.

I find that the most cost effective way to buy cars is to buy 1-3 year old used cars, as you'll save the early high depreciation that way.

New Hyundais aren't cheap. We bought an Accent new in 2011 and we still drive it, but we wouldn't buy another Hyundai. The factory defect in the paint job began to show one month after the 3-year basic warranty expired and the company refused to stand behind their product.

Like what you like, but I would buy something that's a year or two old where the biggest chunk of depreciation has already occurred.

I would suggest a size up. Much higher satisfaction ratings generally. I drive a mazda3. Would not want a mazda2.

Why keep the first car? If it's as bad as you say either get rid of it or, use that money you would have spent on a new car to fix up your current ride.

If you choose to buy another vehicle, rather than spending money on a brand new car, buy a slightly used vehicle instead. You'll either save thousands as someone else took the steepest part of the depreciation hit or get a nicer vehicle for the same amount of money you would have spent on that brand new cheap car.

Buy what you can afford to pay for.

Buy a new Corolla. It will retain it's value much longer, and last 20 years or more.