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New or used car

Date: 29.10.2015 Views: 53676 Comments: 1 Rating: Rating 3

Did you know as soon as a just-sold new vehicle drives out of the dealership it drops in value as it suddenly becomes a used car?

By buying a used car instead of a new one, you can save some money. A new car depreciates fast, especially in the first few years. After 3-4 years, a car is worth only about 60-70% of its original price.

New versus old

1. It is easier to pay-off a used car.
2. Buying a used car gives you more flexibility.
3. With a new car you could be locked in a lengthy contract.
4. It is more cost efficient to purchase a used car.
5. The insurance is often cheaper for a used car.

A gamble

Buying a used car is a bit of a gamble. Some used cars are excellent condition while others may have hidden problems. When buying a second hand car do not make hasty decisions. Take your time to sign the deal. Get the car inspected first and check the service history of the car.



from Dennis Radburn 21 February 2017

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