| There are many advantages in buying a used car, | | | | With a used car, young professionals do not have to |
| especially for people who have just begun working. | | | | concern themselves with paying for depreciation. |
| Young professionals, particularly those who have only | | | | That cost will already have been shouldered by the |
| recently entered the work place, are often not yet in a | | | | first owner. So what they pay for is just the market |
| position to choose a brand new car. Choosing a | | | | value of the car, avoiding the costs associated with |
| used car instead often has its own set of benefits. | | | | the unavoidable depreciation. |
| Here are reasons why a used car suits a young | | | | Insurance is cheaper |
| professional best: | | | | In general, insurance for used cars costs less than that |
| The price makes them user-friendly | | | | charged for brand new cars. Young professionals |
| Used cars are significantly much more affordable than | | | | looking to save money will find that they do not have |
| brand new units. Currently, the average price that | | | | to scrimp on coverage just because they're buying a |
| new car buyers pay for a unit is around $25,500. For | | | | used vehicle. |
| used cars, the average amount is just around $8,200. | | | | Brand is not really a concern |
| Putting a downpayment on a new car will still be a | | | | Most young professionals in the market for used cars |
| significant cost to the buyer. | | | | have this belief that typically high-end cars such as |
| At today's current prices, the spread between the | | | | Mercedes Benz and Lexus are just out of their |
| price of a new car and a used one is getting wider. | | | | league. Not so. With certification programs made |
| That can only mean one thing -- that buyers are | | | | available for many luxury brands, more and more |
| getting really great deals, provided they know how to | | | | people find it easier to own the car of their dreams, |
| choose. For a young professional, the low prices of | | | | albeit used ones. |
| used cars is well-suited to their as-yet limited budget. | | | | Young professionals will find that these used cars are |
| Depreciation can be avoided | | | | well-suited for their career and new lifestyle, particularly |
| Driving a brand new car from the dealer's lot will | | | | because luxury brands have a reputation not just for |
| significantly reduce its resale or market value. That's | | | | their looks but also for their function. The price is |
| the price any new car buyer will have to pay for | | | | typically higher than what a regular used car will fetch |
| depreciation, which could range from 20% to 30% of | | | | but the assurance of quality plus the extras in terms of |
| the value of the car. Depreciation is usually computed | | | | coverage will be well worth it. |
| during the first two-year ownership of a new car. | | | | |