I must admit buying something new, may that be toys, clothes + cars, is actually the most ideal thing to do. But, sadly, even when most of us would like to own brand new stuffs, not most of us can afford to pay for them + that is when plans to buy pre-owned, pre-loved or used items become a much more practical option.
I am sure you will have gone on a litany on how buying new cars will always have more advantage over purchasing used ones, but here are a few considerations you might ponder on, in case you are having second thoughts on that pre-owned Honda Civic or those St George used cars but do not have the budget to get that brand new Chevy:
- Affordability ~ It is not a problem if you have the means to get that brand new car at a hefty price. By all means, get it! But since your pocket can only pay for too much, it is a practical choice to settle for the used car. Did you know that in 2008, the average transaction price for new cars was $25,536, while for the used ones it is only $8,244! So you can just imagine how much money you can save when you settle for the used ones!
- Depreciation Issues ~ New cars value tend to depreciate faster. In fact it loses 30 percent of its value in your first few years of ownership, so think about the big amount you pay for it + imagine a big part of it going down the drain in only the first few years owning your brand new car!
- Certifications ~ or Certified Pre-owned Programs are proliferated by distinguished brands such as Mercedes Benz + Lexus, + have then been copied by most car manufacturers today. These CPO Programs give you more value for your money as manufacturers only consider cars that have relatively low mileage + -+that has no history of major damage into their programs, have them undergo rigid inspections, cover them with warranty + top that with enticing financing offers! A win-win situation, so what’s really not to love?
image is not mine