When looking for your 1 or a new car, always consider if you should buy used or new car.
Don’t buy depreciation! When you buy a new car you are buying a depreciated asset, so why would you do it? Buy used cars can bring many mechanical expenses. So here are some thing to help you choose between buy used or new car.
Cars are assets that demand high maintenance cost and this, gathered with higher taxes and initial cost, can bring you up to a high debt right from the beginning.
Even though you will have a big warranty covering for manufacture damages, a new car is usually as expensive as a used when you talk about damages, so the initial cost makes the whole difference.
Now up to what are the reasons to buy used cars. Used cars usually have their manufacturer data already unveiled, allowing you to know average cost for maintenance, mileage per gas and even if the car had any recalls because of manufacturer problems.
This alone helps you save some good money if you made some research before deciding to go shopping. Beside that you will have a car that have a lower initial costs and usually a big mark-up that allows you to negotiate, and the interest rates that usually are more related to your credit level than the dealers itself.
So yeah, if you made an excellent research, know what you want, have some flexibility and want to negotiate, you can get a much better deal buying used cars instead of a new one!
Keep in mind that buy used or new car is a matter of choice an not always financial situation. Want to know when our articles come in, follow us on Facebook and be the first to know!