Buying a vehicle is one of the most important financial decisions that people have to make. The right car will provide you with many years of value, while the wrong car can continue to cost you more and more money with each year that passes. Here are three simple reasons why you should buy a used car.
This is maybe the biggest reason why you should avoid purchasing a brand-new car. The minute that you drive your new car off of the lot, it loses approximately 20% of its value. After one year of driving it, it will lose another 10% of its value. Purchasing something that loses value that quickly simply is not a strong investment.
Reducing Hidden Costs
When purchasing a new car, many people think that the sticker price is the only thing that they have to pay. However, both insurances fees and registration fees are generally higher for new cars. Buying a used car can help you keep those prices down.
Finding Real Value
While buying a used car may have once had a stigma attached to it, there are now so many ways to check a vehicle’s history to ensure that you are purchasing a quality vehicle. Also, many new models of cars are almost exactly the same as the previous year’s model, so purchasing a two year old car will essentially be the same as a brand new car.