There are two choices when it comes to buying a new-for-you car, you can either purchase a brand new vehicle where you will be the first owner of it, or you can purchase a used vehicle that has had a home or two before you. As with buying anything new or used, both come with their positives and negatives. New cars are often more expensive but come with peace of mind in the form of a warranty, providing you with X amount of time and miles of worry free driving. Used cars come with a lower cost but typically do not carry a warranty with them. It’s up to you to decide which route will be more beneficial to your situation.
Letting Someone Else Take the Hit
Letting someone else take the hit on that new car price can save you a lot of money when they decide to sell. On average, a new car loses nine percent of its buying price value only one minute after it leaves the lot. This means that a car that cost $30,000 is only worth $27,300 a minute after leaving the lot. Is that one minute of being brand new worth $2,700 to you? Seems crazy, doesn’t it? If you can stand purchasing a used vehicle that is only two years old, on average you will pay 69% of the cars total vehicle price when it was new. For a $30,000 car that would be a savings of $9,300. For a great infographic on these stats and more, visit http://ow.ly/NiHIL
Who’s On Your Team?
If you’re thinking of buying a vehicle, now is the time to find your partner. You should ask yourself, “Whom do I know that always keeps me in check and doesn’t sugar coat things?” It is this person that you want to take with you when you go to look at vehicles. All too often the buyer will have their heart set on a specific car and experience tunnel vision to its flaws and other suitable vehicle choices around them. This is where your partner comes in, they are there to play the devil’s advocate by pointing out the flaws of the vehicle that your narrow vision otherwise wouldn’t see. They should question every aspect of the car that you see as a positive. This will help you to see the car from someone else’s view, someone who doesn’t have near the interest in it and therefore won’t gloss over the bad parts.
Ask your mechanic
It’s always a good idea to build a good relationship with your mechanic. They come across all sorts of problems with many different vehicles, so they can tell you what they’ve seen in particular models and give you recommendations for a vehicle based on their experiences. Sometimes, if your relationship with your mechanic is on the up and up, they may offer their expertise to examine the vehicle for a certain price, letting you know right then and there what you can expect to experience with the vehicle as far as its mechanical condition and what you can expect to potentially repair in the near future.
Finally, if you know that you’ll need a new vehicle in the coming months, start looking now. The sooner you start doing your research, the more prepared you can be. Allowing for sufficient research on multiple options allows you to go through the “I gotta have it!” stage a few times. After you do that you’ll be able to see what is really important to you in a vehicle and then make a better choice.