There are hundreds of car models of hundreds of brands to choose from. There are so many questions to ask before buying a car. So many things to consider before taking this step.
The reason why this question of buying a used car has arisen is because of the increasing awareness amongst people. Buyers are becoming aware about the need for financial consideration before buying any car.
Here, we will not be assuming car as an investment. The sole purpose is to evaluate why buying a used car is a better idea than buying a new one.
Though there is a different essence to a new car, like feeling of newness and the new car’s smell, but are these things really worth the extra money that we spend.
The biggest disadvantage of spending your money on a brand new car is that you lose so much of it as soon as your drive off that showroom. Similarly, the initial two or three years see the biggest depreciation for the car. So basically, a lot of money is practically thrown away in the initial years of a new car.
So if you have recently set yourself up financially, then a new car is not the most suggested buy.
Also, newer models tend to see more drastic alternation in designs and engine change. This can further up the cost in case some damages occur after such alterations are induced.
The biggest advantages associated with buying a used car is that someone else takes up the hit of the early years’ depreciation.
You can also find better financing options when buying a used car because of the depreciated cost. Local banks and credit union gives amazing offers to used car buyers.
If you are somebody who loves to move in luxury, but still are not as financially secure so as to put in so much on a new car, buying a used car is the best option available. You get as good a car for lesser price. Good agencies provide you with the entire history of the car. If you are young and till in between student loan, this is a feasible option.
But irrespective of whether you are buying a new or a used car, it is very important to know which car you want to buy and what is the purpose of it. Such questions will lead to the right option on its own.