Purchasing A Car That’s A Couple Years Old Can Save You A Lot Of Money
Getting 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 and the feelings that come with that. My grandma advised me years ago that I shouldn’t ever buy a new car. She explained I could possibly be better off finding a car a couple of years old with reduced mileage. Her reasons 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.
Those rules 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. In the following paragraphs I will clarify to you how you can save thousands by purchasing a fairly new but used car.
The truth 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. Maybe you think 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 valuation may be as low as $20,000 when you first wave goodbye to the car dealer. In reality during that first journey you will 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 get a new car. After you have, apart from going home, don’t drive anywhere else. Go back to the showroom the day after and see what value they set on your car then. Within the space of a day, you may learn that the car you paid $25,000 for has a proposed trade price in the range of $15,000 to $20,000.
This has been the market tradition for many years. This really is shifting in a number of cases where there is a thirty day window to get a 100% trading in valuation for your car from the original dealer. You will still be $5000 down the moment those 30 days have gone by. And if you try to sell your vehicle outright you might end up losing even more than that.
That immediate decline in value is something you will not have to cope with if you decide to buy a car that is say 2 years old. Not forgetting like my grandmother explained, any glitches the car may have, will have been resolved by then. So if you look at it like this, by purchasing a pre owned car with low mileage you will actually be getting more for your money than if you bought a new car at the dealership.
Thus when getting a new car, these are all factors that you should consider. You may need to sacrifice the attraction of a new car to find yourself with the most cost effective transaction.