Brand-new cars are incredibly attractive especially sitting in one for the first time but there are good reasons to purchase one that is a couple of years old. My nanna told me years ago that I shouldn’t buy a new car. A vehicle that was around the two year mark with not so much mileage is specifically what she said I needed. Her thinking behind this was that any issues 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.
Even though this made sense to me and I had been living by that principle ever since, there are actually other reasons why buying a car a few years old is a good choice. I will now expand further on just why buying a car that is not extremely old can result in saving you a lot of money.
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. Any purchase transaction of say $25,000 for a new car will not have been useful to you even when you think it was. As soon as you drive that car off the lot it may now only be worth $20,000. In reality in the course of that first journey you could have taken a hit of $5,000 and this occurred in just a few minutes of time.
If you think I’m exaggerating, go and buy a new car. If you do, simply travel in it directly to the house. Return to the showroom the day after and check out what worth they place on your car then. Within the space of a 24-hour interval, you may find that the car you paid $25,000 for has a proposed trade price in the range of $15,000 to $20,000.
Over time this has been the standard approach of doing things. This is shifting in some situations where there is a thirty day window to get a 100% trading in valuation for your car from the original dealer. In essence, after 30 days, you have still got to come to grips that you are looking at a loss of $5,000. And in case you try to sell the car outright you could find yourself losing even more than that.
That instantaneous reduction in 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 troubles with the car should have been ironed out as my grandma advised. The comparison between a new car and a used car not having way to many miles, is in favor of the latter on this basis.
It is simply just something to bear in mind the next time you are thinking about getting a new car. You can find great value if you can resist the enticement of a brand new car.