Buying Used versus New Cars

Owning a brand new car is exciting. But financially speaking, it makes more sense to buy a used car. As soon as you drive a new car off the lot, it loses a great portion of its value. This is because your car is no longer “new”.

New cars lose about 40% of their value within three years, and then depreciation starts to slow down. You may decide to buy a used car and allow someone else to take that depreciation hit.

The previous owner will have absorbed the steepest part of the depreciation cycle. At that point, the costs of owning and operating the car will be reduced.

As with everything, there are a few downsides to buying a used car. There are greater chances for costly unwarranted repairs. You may very soon have to do major maintenance on your car, including replacing tires, battery, brakes, muffler and perhaps even the transmission.

A used car is usually less reliable. You don’t know exactly what you’re getting into and how the previous owner treated the car.

If you can pay cash, go the new car way. Enjoy the feeling of knowing you’re the original owner of a new car. That is a good feeling. On the other hand, do not hang your hat higher than you can reach. If you don’t have cash, practice financial prudence and buy a used car rather than a new one.

But there is another way the Internet can help. If you decide to shop for a used car at a new car lot, you can bring up a list of dealerships in your area. Additionally, you can get their telephone numbers and the directions to drive there. In some cases, car lots will even have their inventory online.

While the Internet is an amazing resource, you should still try the conventional method of car shopping. First of all, ask your friends and relatives if they are selling a used car. Chances are, this will turn up a likely candidate. And buying a car from someone you know means you can learn more about the history of the vehicle than you would from a dealer.

Used cars in South Hackensack New Jersey

Also, be sure to keep your eyes out for cars with “For Sale” signs in the window. Sometimes, notices of cars for sale will be posted on bulletin boards at supermarkets or in local schools and colleges. Finally, don’t forget the newspaper classifieds, particularly on Saturday and Sunday.  Check out the latest collection of used cars in South Hackensack New Jersey. Carz4usauto has the best collection of different brands like BMW, Audi, Toyota etc

Leave a Reply

Your email address will not be published. Required fields are marked *