Purchasing a car that’s been on the road between one and two years can certainly make sense although we all like the idea of having a new one and the feelings that come with that. I was advised against buying new cars by my own grandma many years ago. Her recommendation seemed to be to find a car that had not clocked up a lot of miles and was around two years old. This should imply the vehicle I ended up owning was in fairly good order especially since any work that had been needed on it up to that point would have been performed.
There are more advantages to purchasing a slightly older car in addition to those above which I still follow now whenever I decide to purchase a car. I will now expand further on why buying a car that is not overly old can result in saving you a bunch of money.
The truth that a new vehicle’s value diminishes by thousands once you have driven away from the car dealer is a factor you have maybe not thought about. Therefore when you buy a car that amounted to $25,000 and you thought you got a great deal, you really didn’t. As soon as you drive that car away from the lot it could possibly now only be worth $20,000. The truth is in the course 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 think maybe I am being too alarmist here. If you do, just travel in it directly to the house. Then the subsequent day bring the car directly back to the dealer and find out how much you can get for a trade in. Most likely for that $25,000 car you bought yesterday they will just offer you $15,000 to $20,000 for the trade in value.
In past times, this is just how things ran in the trade. There are cases now where for up to 30 days a dealer will give you the full original value back if you are trading in your car. You will still be $5000 down as soon as those 30 days have elapsed. And when you try to sell your vehicle outright you might end up losing even more than that.
A two year old car is not going to bear that kind of loss when you are purchasing it from a car dealer in the same way. In cases where there were issues with the car these should have previously been solved as my grandmother originally stated. Once 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 just something to bear in mind the next time you are making plans for getting a new car. Unless you object to passing up on that new car smell you can end up getting a much better deal.