Save Your Money By Purchasing An Older Car Rather Than A New One
While 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. My nanna told me years ago that I should never buy a new car. Her advice was to find a car that had not clocked up too many miles and was around two years old. Based on her reasoning, any kind of car I acquired should be running well and if there had been anything needing attention, this would already have been carried out.
There are other benefits to purchasing a moderately older car in addition to those above which I still follow now whenever I decide to purchase a car. I am now verify the savings that can be made whenever you buy a car that has been on the road a while and yet still fairly new.
Right after buying a new car, it can be worth a few thousand less as soon as you leave the car showroom and is something you may not have considered. Perhaps you imagine 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 might be as low as $20,000 when you first wave goodbye to the car dealer. The truth is during that first journey you'll have taken a hit of $5,000 and this occurred in just a few minutes of time.
You should purchase a brand-new car if you feel I am being extreme. If you do, only travel in it directly to the house. Then the subsequent day bring the car back in the dealer and find out how much you can get for a trade in. Within the space of a 24-hour period, you may discover that the car you paid $25,000 for has a proposed trade price in the range of $15,000 to $20,000.
Historically, this is merely how things worked in the trade. You will find situations now where for as much as 30 days a dealer will give you the full original value back if you are trading in your car. You will still be $5000 down as soon as those 30 days have passed. And if you try to sell the car outright you might wind up losing even more than that.
At this time 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. If perhaps there has been issues with the car these should have previously been solved as my grandmother originally stated. The value for money of a lower mileage older car is greater than purchasing a new car from a automotive dealer when you take all of this into consideration.
This is simply just something to keep in mind the next time you are considering getting a new car. It is possible to find great value if you possibly can resist the temptation of a brand new car.