There is no denying the sense of pleasure and accomplishment you get when you buy a new car. The aroma of a new car, slick design and the way the brand new car drives is just breathtaking experience. However, Buying a brand new car does come with its own share of problems, not to mention the tremendous amount of money you've spent.
While still, some consider it a risky investment, buying a used car is the best alternative for those of us who don't want to spend their life savings on a vehicle. Here are some of the reasons why you should buy a used car over a new car.
1. Lower price- The prices in the new car and used car markets tend to move in the opposite direction, depending on the demand. The new vehicle market is hot right now, which means prices for used cars is comparatively low. Note
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Depreciation- Depreciation is the most common gripe for any new car owner. As soon as you buy a new car from the market its value goes down by 20%, three or four years later car's value goes down by 50%. If you ever plan to sell that car you will get a lower return.
3. Safety- In earlier eras, Buying three or four years old car meant 'say goodbye to safety features'. Safety features were not a standard at that time. Meanwhile, now advanced safety features, anti-lock, airbags and electronic stability control breaks can now be easily found on the cars manufactured after 2009. Advanced safety features like electronic stability breaks are essential for your car. As per a recent research, stability control has reduced the risk of single car accidents by more than 50%.
4. Larger selection- The reason why used car value is going down as drivers are selling their old cars and buying new ones. This is a great news for those who want a second-hand drive, because of the access to millions of cars online. A buyer can find any car model he wants. If you are planning to buy a used car you should visit circlecarsales.com, they provide a perfect platform to buy or sell used
The pros of a new car is that you can consider a wide variety of vehicles in the size and price that you want,also select the features that you want in your car. One thing that financial institutions give higher rates of interest on loans for used cars. Also for the first few months you won't need maintenance ,manufacturer cover the warranty and banks offer lower finance rates. The cons of a new car is that most of them are really expensive and also over the two years or more new cars tend to depreciate at about 20 -40 percent in value. You have higher insurance rates and also you have to pay registration fee and more. The pros about a new car is that you can pay less money which means more on saving , there is no depreciation on a used car . Taxes are low and also the collision insurance are low too. Used cars don't have state sales tax and you also come out of zero interest loan. The cons of a new car is that there is no warranty and you have to car for your own maintenance. There is no GAP insurance for used cars , that means that it allows the owner to pay off loan balance in the event of a total loss.
I think that the main factors in the drop of car prices are the age
Buying and leasing are two very different approaches to obtaining a vehicle while both have their advantages and disadvantages both can also benefit the purchaser. There are many differences between the two but the primary difference is with buying money is paid to own the vehicle and with leasing money is paid to use the vehicle. According to the site www.towtrucknet.com/financing.htm, of the 15.5 million new vehicles sold in 1998 a record 5.3 million were leased. The three main differences are payments/price, depreciation value, and valuable differences.
It is an ideal option for anyone who wants to drive around in a new car every few years. It ensures that you have the best car you can get for a small fraction of the price that you would pay to buy a new car and then try to sell it, in the hopes of buying another new one. It is also a lot less stressful to sell. When you are tired of it, you simply take it to the dealer.
Leasing in a nutshell. When leasing you are paying for the use of the car rather than paying for the car itself. In other words, your lease payment covers the depreciation of the cars over the length of the lease. Usually you can lease a car with zero down but the more you put down the lower your monthly payments will be. You as the lessee, are responsible for maintaining the car during the term of your lease and at the end of your lease you have the option to turn it in and walk away from it or choose to purchase it for the residual value of the car. Seems simple enough but there are many other things to consider before leasing a car.
Buying a car is usually going to be the first big purchase a person will make in their life. It is actually considered the second biggest purchase, right behind buying a house. Cars now can do things like park themselves and even drive themselves. Electric cars are also a thing that is getting a lot of attention and studies show that they will be what dominate our streets and highways in the near future. Many people turn to electric cars because they are very efficient to our pockets. Not spending money on gas for the rest of your life is a huge selling point for many people. The problem is that recharging your car takes so long that sometimes it is not even worth it. Electric cars are also very good for our environment. Electric
Used auto parts are quite convenient to use since they are always available even for vehicles that are quite
These sites often buy and sell used and brand-new cars and offer the tools you need to help you sell your car as quickly as possible. You’ll need to provide quality images, an accurate description and a fair price to get started and keep in mind that usually these sites list your car for sale to buyers around the world. Donate it. There are a lot of charities that operate programs to which you can donate your car.
car and at the same time in other countries they are selling their cars for less
There are a lot of decisions being made when looking for a vehicle. In order to make the right ones you have to understand what you want but mainly what you can afford. There are many ways you can purchase a car, whether you buy it from a car dealership or a private seller, the process is normally the same. The first thing you should do is set a budget that suits your needs. This will save you from having financial problems later. You don't want to receive repossession letters months ahead for not paying your car on time. Next you want to decide on whether you prefer a new or used vehicle. Pre-owned vehicles require more attention because unlike new vehicles, they've had...
For all these features any car can still crash so this report aims to make you more aware of the safety aspects of modern cars and what role they play in driving.
When you hear the term “used car”, what is the first thing that comes to mind? Some may think of an old rusty Cadillac that belongs in a junkyard. Others may think of that nice Camaro at the used car dealership for sale. Over the years, used car sales have skyrocketed. In 2012, over 40.5 million used cars were purchased in the United States (Atiyeh, 2013). Used cars are in high demand in today’s economy because of the lower prices, slightly higher gas mileage, and that they can be more trustworthy against some of the newer models. With used car sales always climbing, how do buyers know what they are looking for in a vehicle? How do they come down to the final decision of where to purchase the vehicle? Most importantly, how can buyers make sure that they do not get scammed? This paper will take you through the process of purchasing a used vehicle, from deciding on a budget, all the way to the final purchase of your “new” car.
The price of cars will caused movements along the demand curve. In addition, shifts of the demand curve for cars will be caused by the price of complement goods, the appearance of substitute products, citizens’ income and the government policies.
Types of goods will help us determine whether demand for cars is elastic or inelastic. If a good is considered to be a luxury rather than a necessity, the greater is the price elasticity of demand (McConnell & Brue, 2004). Cars can be deemed as necessary due to a need for transportation. Other types of cars can be classified as luxury. A person who needs to be able to get from one place to another will have the need for a car. An old vehicle may suffice. In such a scenario, buying a brand new car is more likely to be a luxury rather than a necessity. If car prices go up, people are more inclined to just keep driving their old vehicles. In essence, the cars already on the road would serve as substitutes for new cars. However, over a longer period of time, old cars tend to wear out and the elasticity of demand for vehicles is less.
Petrol prices generally go up, rarely coming down even when global fuel prices go down. This is an ongoing expense too, a car is useless without fuel. Picking a car with a smaller engine can save fuel and modern cars also have been designed with better fuel economy, but as I have already mentioned modern cars cost more money upfront.