Why Buy a Used Car

By Friday, September 11, 2015 0 Permalink 0

A car is one of those things that most people need to have, but that people find difficult to really afford. The up-front purchase price of the car is just one part of the equation – you also need to worry about the insurance, tax, running costs, loan payments, parking, etc.

A brand new car will depreciate in value massively during the first year of ownership, which makes it not an ideal investment. It usually makes more sense to buy used car, because while that will continue to fall in value it will not be by as much. In addition, a used car costs less, and this means that the insurance premium is usually lower too, so as long as the car is in good condition and is well maintained you won’t see such massive expenses to keep it on the road.

Some people are nervous about buying used cars because they are concerned that the car will be expensive to keep running. They worry about buying one that is falling to pieces and unreliable. This doesn’t have to be the case. If you buy from a private seller then yes, you admittedly do run the risk of ending up with something that is less reliable. However, if you buy from a dealer you are more likely to get something that is safe and in good condition.

Dealers offer warranties too, so if your vehicle breaks down then you will be able to get it repaired by them at no extra cost. There’s no reason to buy a brand new car unless you are someone who works in a customer facing job where the image of having a car is important – for example as a self-employed salesman that does a lot of site visits. For a day to day runaround a 2-3 year old car that is in good condition is just as good, and will be cheaper to run and cheaper to buy, as well as retaining more of its resale value, should you want to sell it on and upgrade in the next few years. Some people will keep themselves in “new” cars every year by purchasing a car that is a couple of years old, taking good care of it and trading it in against a different car after a year or so, before it gets old enough to need extensive work.

Athletic trainer, amateur chef, beach fanatic, outspoken, intelligent, practical joker, wicked sense of humor. A simple person who like to please everyone as hard as I can, with many interests.