Most common questions used to investigate
Do you have budget constraints?
Are you a first-time driver?
Do you plan to resell the car after using it for a few years?
Are you well-versed with the functioning of a car?
Have you planned the finances?
Are you specific about the car make and model?
Common conclusions
If you have a smaller budget or just starting, buying a used car makes financial sense because you can get a bigger car for a lot less money. Also, the burden of insurance and other hidden costs tend to be lesser than new cars. This way, you can even get a used SUV for the price of a new hatchback!
If you're going to drive a car for the first time on the roads and highways, it makes sense to buy a used car as you can drive stress-free. There's always the fear of dents and damages with a new car, but with a used car, there is no such stress since you'll be spending a lot less on it.
a vital concept you must understand in the process of car buying and selling is depreciation. Essentially, what this means is that the value of the car goes down as you use it. The more miles you put on, the lesser will be your sale price. But the good news with used cars is that the rate of depreciation is much slower compared to new cars. This means you can get more money while selling your used car than the price you bought it.
, Most people are not car mechanics and won't tell the difference between cars in terms of performance unless it is evident and significant. This is one of the problems of buying a used car because you never know when problems will start. The car may look perfect at the time of buying but may develop problems within just a few months. That's a chance you'll have to take with these used cars, which is also an advantage with a new car. A workaround to this is to take a mechanic with you, so he or she can thoroughly check the car and it's functioning. Of course, even this is not a 100% foolproof plan.
This is a critical step you must take before buying a car, regardless of whether it is a new or an old one. Ideally, plan to pay off the loan in three years and decide on the right amount of down payment you should make for the car.
It is hard to find a used car that perfectly matches the color, make, and model you want, so be prepared for compromises.
Great! You're sure to have plenty of choices.
References
Related Problems
