Keep Your Cash By Purchasing An Older Vehicle Rather Than A New One
New cars are incredibly attractive especially sitting in one for the first time and yet there are good reasons to purchase one that is a couple of years old. Investing in a new car is something I was warned against previously by my grandmother. An automible that was around the two year mark with not too much mileage is what she said I needed. Based on her thinking, any kind of car I acquired should be working well and if there had been anything needing attention, this would already have been carried out.
Those rules are something I still adhere to today as they are reasonable and in buying an older car there are other considerations that bring weight to this argument. I will now expand further on just why buying a car that is not too old can result in saving you lots of money.
I don’t know if you realize it or not but as soon as you buy a new car and drive it off the lot the value of the car just drops by thousands of dollars. Maybe you believe you have bought a car that is excellent value for money if you paid $25,000 for instance but in reality you haven’t. The instant you drive that car off of the lot it may possibly now only be worth $20,000. The loss of $5,000 dollars can take place in that quick space of time and those initial miles covered.
If you think maybe I am exaggerating, go and get a new car. Then drive it no other place else but immediately home. In terms of the amount your car can 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. With regards to trading in the car you might expect anywhere between $15,000 and $20,000 and this covers a car you got for $25,000 the day before.
Over time this has been the standard manner of doing things. These days some dealerships are offering you a 100% trade in price for 30 days after you buy the car. You will still be $5000 down the moment those 30 days have elapsed. And when you try to sell the automobile outright you may wind up losing even more than that.
That immediate lowering of value is something you will not have to deal with if you decide to buy a car that is say 2 years old. Not to mention like my grandmother explained, any bugs the car may have, will have been figured out by then. So if you view it like this, by purchasing a pre owned car with low mileage you will actually be getting more for your money than if you bought a new car at the dealership.
Thus when purchasing a new car, these are all factors that you should consider. It’s possible to find great value if you can resist the lure of a brand new car.
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