Keep Your Money By Purchasing An Older Vehicle Rather Than A New One
Buying a car that’s been on the road between one and two years tends to make sense although we all like the idea of having a new one along with the feelings that come with that. My grandmother explained years ago that I shouldn’t ever buy a new car. Her advice seemed to be to find a car that had not clocked up a lot of miles and was around two years old. Based on her thinking, whatever car I acquired should be operating well and if there had been anything needing attention, this would already have been carried out.
Those guidelines are something I still adhere to today as they are reasonable and in buying an older car there are other considerations that bring weight to this argument. On this page I will demonstrate to you how you can save thousands by purchasing a fairly new but used car.
I’m not really sure if you are aware of it or not but once you buy a new car and drive it off the lot the value of the car just drops by thousands of dollars. Perhaps you believe you have bought a car that is the best value for money if you paid $25,000 for instance but in reality you haven’t. The instant you drive that car off of the lot it could possibly now only be worth $20,000. The loss of $5,000 dollars can occur in that quick space of time and those initial miles covered.
Splash out on a new car, if you feel I am really being too alarmist here. If you do, just travel in it right to your home. Then the subsequent day bring the car back to 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 covers a car you purchased for $25,000 the day before.
This has been the market standard for many years. However right now several dealerships are offering you a 100% trade in price for 30 days after you buy the car. Basically, after 30 days, you’ve still got to come to grips that you are looking at a loss of $5,000. And if you try to sell the car outright you might wind up losing even more than that.
A two year old car will not likely suffer that kind of decrease when you are purchasing it from a car dealer in the same way. Not to mention like my grandmother explained, any bugs the car may have, will have been resolved by then. So when 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 may need to give up the attraction of a new car to end up with the most cost effective transaction.