Although we all love the smell of a brand new car as well as the pride that comes with owning a new car, it could be worth your while to buy a car a year or two old. I was advised against acquiring new cars by my own grandma several years ago. Her recommendation seemed to be to find a car that had not clocked up a great number of miles and was around two years old. This should imply the car I ended up owning was in fairly good order especially since any work that had been needed on it up to that point would have been performed.
There are additional advantages to purchasing a somewhat older car in addition to those above which I still follow now whenever I decide to purchase a car. I will now expand further on why buying a car that is not too old can result in saving you a lot of money.
After purchasing a new car, it is typically worth a few thousand less as soon as you leave the car showroom and is something you may not have considered. Perhaps you think you have bought a car that is good value for money if you paid $25,000 for instance but in reality you haven?t. The valuation could possibly be as low as $20,000 when you wave goodbye to the car dealer. This means that in a matter of a couple of minutes and a few miles you just forfeited $5,000.
Splash out on a new auto, if you feel I am actually being too alarmist here. If you do, just travel in it straight to the house. In terms of how much money your car will be worth the next day, just go back to where you bought the car and see how much they would be prepared to give you. For trading in the car you could expect anywhere between $15,000 and $20,000 and this covers a car you purchased for $25,000 the day before.
Over the years this has been the typical manner of doing things. You will find cases now where for up to 30 days a dealer will give you the full original value back if you are trading in your car. You?ll still be $5000 down after those 30 days have gone by. And when you try to sell the automobile outright you could end up losing even more than that.
At this point when you buy a car that is a year or two old you won?t be losing that instant decline when you drive it off the lot. In addition to this, any troubles with the car should have been ironed out just as my grandma advised. The value for money associated with a lower mileage older car is a lot more than purchasing a new car from a automotive dealer when you take all of this into consideration.
So when buying a new car, these are all factors that you need to consider. It is possible to uncover great value if you?re able to resist the lure of a brand new car.
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