Buying a car which has been on the road between one and two years tends to make sense although we all like the idea of having a new one and the feelings that come with that. My grandmother explained years ago that I should never buy a new car. She believed I might possibly be better off finding a car a couple of years old with low mileage. Her reasoning behind this was basically that any issues that the car may have had will be taken care of and I would be sure that I was getting a car in good working condition.
Even though this made sense to me and I have been living by that theory ever since, you will find other reasons why buying a car a few years old is a good choice. On this page I will explain to you how you can save thousands by purchasing a fairly new but used car.
After paying for a new car, it can be worth a few thousand less as soon as you leave the car showroom and is something you may not have considered. A sale transaction of say $25,000 for a new car will not have been good for you even if you think it was. Once you leave behind the car lot, a new valuation of $20,000 could be the asking price for your car. Losing $5,000 dollars can take place in that quick space of time and those initial miles covered.
Go on and purchase a new car if you think I am being extreme. If you do, just travel in it right to the house. With regards to how much money your car will be worth the next day, just go back to the place you bought the car and see how much they would be prepared to give you. No doubt for that $25,000 car you purchased yesterday they will offer only you $15,000 to $20,000 for the trade in value.
In the past, this is just how things ran in the trade. This really is shifting in a number of situations where there is a thirty day window to get a 100% trading in valuation for your car from the original dealer. You'll still be $5000 down the moment those 30 days have gone by. And if you try to sell your vehicle outright you might find yourself losing even more than that.
That instant decline in value is something you will not have to contend with if you decide to buy a car that is say 2 years old. In addition to this, any difficulties with the car should have been ironed out as my grandma advised. The value for money of a decreased mileage older car is greater than purchasing a new car from a dealer when you take all of this into consideration.
It's simply something to take into account the next time you are considering getting a new car. You may need to forfeit the attraction of a new car to find yourself with the most cost effective transaction.
Even though this made sense to me and I have been living by that theory ever since, you will find other reasons why buying a car a few years old is a good choice. On this page I will explain to you how you can save thousands by purchasing a fairly new but used car.
After paying for a new car, it can be worth a few thousand less as soon as you leave the car showroom and is something you may not have considered. A sale transaction of say $25,000 for a new car will not have been good for you even if you think it was. Once you leave behind the car lot, a new valuation of $20,000 could be the asking price for your car. Losing $5,000 dollars can take place in that quick space of time and those initial miles covered.
Go on and purchase a new car if you think I am being extreme. If you do, just travel in it right to the house. With regards to how much money your car will be worth the next day, just go back to the place you bought the car and see how much they would be prepared to give you. No doubt for that $25,000 car you purchased yesterday they will offer only you $15,000 to $20,000 for the trade in value.
In the past, this is just how things ran in the trade. This really is shifting in a number of situations where there is a thirty day window to get a 100% trading in valuation for your car from the original dealer. You'll still be $5000 down the moment those 30 days have gone by. And if you try to sell your vehicle outright you might find yourself losing even more than that.
That instant decline in value is something you will not have to contend with if you decide to buy a car that is say 2 years old. In addition to this, any difficulties with the car should have been ironed out as my grandma advised. The value for money of a decreased mileage older car is greater than purchasing a new car from a dealer when you take all of this into consideration.
It's simply something to take into account the next time you are considering getting a new car. You may need to forfeit the attraction of a new car to find yourself with the most cost effective transaction.
About the Author:
Learn more about new car invoice prices Canada. Stop by Liza Matzke's site where you can find out all about Canadian car invoice and what it can do for you.