Even though everyone loves the smell of a 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. I was encouraged against buying new cars by my own grandma several years ago. Her help and advice appeared to be to find a car that had not clocked up a great number 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 carried out.
There are additional benefits to purchasing a somewhat older car in addition to those above which I still follow now whenever I decide to purchase a car. In the following paragraphs I will explain to you how you can save thousands by acquiring a fairly new but used car.
I don’t know if you realize it or not but whenever you buy a new car and drive it off the lot the value of the car just drops by thousands of dollars. It could be that you think you have bought a car that is excellent value for money if you paid $25,000 for instance but in reality you haven’t. The instant you drive that car away from the lot it may now only be worth $20,000. Sacrificing $5,000 dollars can happen in that short space of time and those initial miles covered.
Splash out on a new auto, if you feel I am actually being too alarmist here. If you do, only travel in it right to your house. Then the subsequent day bring the car back in the dealer and find out how much you can get for a trade in. For trading in the car you can expect anywhere between $15,000 and $20,000 and this is for a car you purchased for $25,000 the day before.
Historically, this is just how things ran in the trade. This really is changing in a few situations where there is a thirty day window to get a 100% trading in valuation for your car from the original dealer. But as soon as those 4 weeks are over, you are out of that $5,000 no matter how you look at it. This deficit might be greater if just selling the car is something you are considering.
At this point whenever you buy a car that is a couple of years old you won’t be losing that instant devaluation when you drive it off the lot. And naturally like my grandmother explained, any bugs the car may have, will have been figured out by then. So if you consider it like this, by purchasing a pre owned car with low usage you will actually be getting more for your money than if you bought a new car at the dealership.
It is worthwhile remembering these points whenever you are making car purchase decisions. You might have to give up the attraction of a new car to wind up with the most cost effective transaction.