We can all agree—the smell of a new car is intoxicating. Nothing can stir our impulse to buy like sitting inside a brand-new car, fresh from the factory. Our suggestion? Don’t sit in new cars. Instead, order a “new car smell” spray and choose a used car over a new one to save a lot of money, and at the same time, get a better car than if you bought new.
Purchasing a used car rather than a new one will instantly save on cost and save you the embarrassing moment of sticker shock. Used cars undeniably cost less than new ones.
In a new car, you are paying for a machine that is shiny clean and yes—smells fabulous. But is a great smell worth thousands extra?
The new car salesperson will tell you it’s a greater value, but they won’t tell you that value will diminish quickly.
Cars depreciate about 20% after one year of driving. That’s quite a loss in value. As a matter of fact, the greatest time of depreciation is within the first few years.
That’s why purchasing a car that is already a few years old is a wise choice. Depreciation tapers off and you won’t waste money on a car that is losing value quickly.
A Learning Experience
Imagine the amount of money that could be saved buying an older, used car that needs a little work? This is a great idea if you have newer drivers at home and want to teach them how to fix things on a car.
If fixing a car up is the goal, another great idea is to search for a salvage car and restore it. The lessons learned this way will last a lifetime and save a lot of money as repairs are made at home.
When you choose a used car over a new one, car insurance rates are often lower, creating another cost savings. This is especially important to remember with younger drivers, as insurance companies charge more for them.
If luxury is your thing and so is saving money, then buying a used car offers a better chance of getting all of those bells and whistles you enjoy, without the hefty new car price tag.
In conclusion, used cars are a better investment than new. Take your time shopping around and you are sure to find a great car with great savings.