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  • Buying Used Cars Can help you save A lot of money

    Buying Used Cars Can help you save A lot of money

    Buying used cars, as a means to save cash is a wise choice nowadays. The days when used cars meant you had been buying trouble are over; because of new technology cars are lasting longer than they did in the past. Today, buying used cars means you will get more car for your money.

    There are lots of reasons for purchasing used cars. Probably the most obvious is that the used car does not have the big quantity of depreciation that comes along with purchasing a new vehicle. Whenever you buy used someone else already took the large hit of depreciation which means you do not have to.

    Allow me to explain what I mean...

    The moment someone buys a brand new vehicle and drives from the smiling salesman, the vehicle loses anywhere from 15 to 40 percent of its value. That's a lot of money when you add it up.

    Here is a story that illustrates so what can happen to you without you being aware of what's going on.

    My pal Jay always bought new cars until the light bulb came on and that he saw why he was always in so much debt together with his cars.

    It took him over Ten years to get this.

    He bought his first car as he was 18 and financed the entire amount. Back then a brand new car, loaded was $4,000 dollars. (It was some time ago, in the event you were wondering!) Jay never put their own money into the cars because of his good credit.

    He believed it was the way to buy cars. Pretty cool, he thought. Drive a brand new car and never have to develop any of their own money.

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    After 3 years he traded that car in on another new vehicle. He was $1,500 inverted. No problem the salesman said. We are able to just roll that more than to your new car.

    So they did.

    You can observe the pattern here. He traded every two to three many kept rolling over the negative equity each time he purchased another vehicle. Well your day finally came when he had to pay up everything negative equity. It wasn't a great day if this realization hit him. He was a lot more than $6,500 upside down over his early car-buying career.

    It had been in those days he discovered that buying a second hand vehicle saved him everything big lack of depreciation on each car. From that day forward Jay has always bought used cars and not regretted it since.

    Incidentally...

    Jay has never been that much inverted again on any of his cars.

    One other way that you could cut costs buying used cars is thru insurance, taxes and other associated fees that include buying new. Insurance coverage is most often less for a second hand vehicle than it is for a new car. Taxes and costs are also less on used cars when compared with new.

    You really do purchase that new car smell. People joke about this... nevertheless, you can wind up paying dearly for your new car smell. Buying used cars provides you with the chance to choose a car with increased options and it is more affordable than a brand new one.

    Added by Adam & Miller on Wed, Jun 13th 2012

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