Although we all love the smell of a brand new car as well as the pride that comes with owning a new car, it could be worth your while to buy a car a year or two old. Investing in a new car is one area I was warned against before by my grandmother. Her recommendation was to find a car that had not clocked up a lot of miles and was around two years old. Her reasons behind this was that any difficulties that the car may have had will be taken care of and I would be sure that I was getting a car in good working condition.
There are other positive aspects to purchasing a somewhat older car in addition to those above which I still follow now whenever I decide to purchase a car. On this page I will explain to you how you can save thousands by purchasing a fairly new but used car.
The reality that a new automobile’s value reduces by thousands once you have driven away from the car dealer is a factor you have maybe not thought about. A purchase transaction of say $25,000 for a new car will not have been good for you even if you think it was. As soon as you leave behind the car showroom, a new valuation of $20,000 could be the asking price for your car. In fact for the period of that first journey you’ll have taken a hit of $5,000 and this occurred in just a few minutes of time.
Splash out on a new vehicle, if you feel I am really being too alarmist here. If you do, simply travel in it directly to your home. Then the following day bring the car back to the dealer and find out how much you can get for a trade in. In the space of a 24-hour interval, you may learn that the car you paid $25,000 for has a suggested trade price in the range of $15,000 to $20,000.
In past times, this is simply how things ran in the trade. There are instances now where for as much as 30 days a dealer will give you the full original value back if you are trading in your car. But as soon as those 4 weeks are over, you are out of that $5,000 no matter how you look at it. This shortfall could possibly be greater if merely selling the car is something you’re thinking about.
That instantaneous lowering of value is something you will not have to cope with if you decide to buy a car that is say 2 years old. Moreover, any difficulties with the car should have been ironed out as my grandma advised. So if you look at it like that, by purchasing a pre owned car with low miles you will actually be getting more for your money than if you bought a new car at the dealership.
It is worthwhile remembering these factors whenever you are making car purchase decisions. It is possible to uncover great value if you can resist the lure of a brand new car.