It is time for you to buy a new car and you are wondering whether you should buy a used car or a new one. Although brand new cars have their own appeal there are several advantages of buying a used car.
Most car salesmen will try and sell you a brand new car of course. They make more money especially if it is a high end model but if you have a choice of used cars to choose from then you should think twice about buying a brand new car. Before we look at the advantages of buying used cars it is important to mention the one thing that you must take into account is how the car has been taken care of in the past. You want a car that was owned by someone with a history of caring for it.
The first advantage of buying a used car is the fact that you will spend less. Although most people dont know it, the difference, on average, between a used and a new car is a whopping $20,000. In this economy where many people dont have that kind of money to spend it makes no sense to spend that kind of money when you can get the same convenience with a used car. It is true that the interest rates on used cars are higher but not by much. On a new car youll get around 4% while on a new car youll get around 4.99%.
A used car comes with a track record; you know for sure that someone has used it and that it works properly. So long as you get a maintenance log to show that it was services regularly you should be fine.
A used car has way less depreciation than a brand new car. When you drive a car out of a showroom you immediately lose about 25% of its value. That is a lot of money when you think about it. If you buy a used car, on the other hand, it will depreciate in value but not as drastically. If you were to resell it after a little while you would gain most of your investment back.
You dont pay taxes on used cars at all. This is something that most states dont emphasize. Find out how much tax you have to pay on a used car in your state and see how much money you will be making.
The registration fees for cars falls every year, quite significantly in the first few years. If you buy a used car you will not pay that much in registration fees and they will fall every year.
When you buy a used car you are getting a lot of add-ons that you dont need. Dealers are smart and they want to make the most out of you. They do this by adding features to new cars and charging you for them. You dont have to pay for items that you dont need.
Think carefully before you buy a brand new car as a used car will do just as well and it has a lot of advantages. Lochmandy Motors which dominates Elkhart used cars is one place where you will get a truly fair deal, every time.
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