Should You Buy A New Or Used Car?
The age-old question," Should I buy a new or used car?" Well, if you asked us this question 10 years ago, the obvious answer would be to buy a new car and avoid all of the complications that come along with buying a used vehicle. But in today's market, we have found that there are pros and cons of buying either a new or used vehicle. From the industry secret of depreciation to the newfound reliability of most vehicles, we have dug deep to find the pros and cons of buying a new vehicle or a used vehicle. You can find what we have found down below, it even changed our minds! New Vehicles And Depreciation One of the biggest secrets in the new car industry is the fact that newer cars depreciate faster than any other investment you can make. New cars have been recorded to lose at least 20 percent of their value in the first year after purchase while used cars will only lose around 5 percent. To put this in perspective, a new car worth $30,000 will be valued at $15,000 after only 3 years while a used car purchased at $15,000 will be valued at $10,000 after the first 3 years of ownership. While you may feel the advantages of driving a new car outweigh the value of the car, is the enjoyability of the trip worth $15,000 after 3 years? The Benefits Of Used Car Ownership In the modern car market, the used car [...]