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WASHINGTON - MARCH 13:  Warren Buffett, chairman and CEO of Berkshire Hathaway Inc.

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Heres what Buffett might tell if you were planning to finance a new car.

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Also heres what Buffetts frugal lifestyle could teach us.

New Car = Depreciation

Buffett is famously a fan ofinvestmentvalue.

This is why Buffett tends to buy used cars and hold them for as long as he can.

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But Buffett, one of the most successful investors of all time, believes the exact opposite.

Even though Berkshire Hathaway is the sixth-largest company in America, it carries essentially zero debt.

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