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In today's economy, we are constantly being bombarded with messages about saving money, being environmentally friendly, and the virtues of being "frugal." But with our economy being so untrustworthy, and the price of gasoline which averaged at $4.00 a gallon, how do we really know what our best option is?
Do we elect going into debt just to buy that eco-friendly Hybrid vehicle? Or should we find a small, brand-new sedan? Or should we just ignore the economy and gasoline
prices all together and buy a big SUV? The answer is likely- none of the above. With the economy being the way it is, and prices rising dramatically on everything by the
day, it's better to find a used vehicle that is reasonably economical on gasoline.
There are several good reasons why to buy a used car:
The first reason for buying used is that most cars will depreciate 20-30% during the first year or two that they're owned. This is an excellent reason to buy used; let
someone else take that 20-30% loss instead of you.
The second reason for buying a used car is that you can often buy a better car with a better options package than you would have if you bought it brand new. If you buy a
car that is only 2 or 3 years old, you can generally get more options - some of these options would add thousands of dollars to the original purchase price.
The third reason for buying a used car is that more manufacturers now offer certified used vehicles and extended warranties. This means that if something happens to the
car during use, the manufacturer will handle the problem, leaving no liability for the buyer.
The fourth reason for buying a used car, rather than new, is that you can expect to drive the car at least 6-10 years before you either trade it in, or sell it. This is
because cars are made of higher quality now, and will last indefinitely if properly maintained. This means you can drive the car for as long as YOU want to until you
want to get rid of it.
Although the used car industry does not offer the "new car smell" when you purchase a car, it may be the most economically smart decision purchasing one.
