Pros And Cons Of Buying Used Cars

Each year, out of all the vehicles bought in the U.S., 412) PROS - On the other side, buying a used car could
million are used cars compared to only 16 million newbenefit the buyer in several ways:
car purchases.* The original owner of the car received the
Since purchasing a car is the next financial investmentdepreciation hit. The market value of the new car
made by US citizen other than housing, it is importantdecreases from year to year. An average 30% of its
to determine if buying a used car is worth your money.value within three years from the time it was bought,
1) CONS - Here is a list of the disadvantages ofso buying their car would save you a lot of money.
used-car buying:* Unlike purchasing a new vehicle with high insurance
* The options of cars are limited, so the search for thefees, you will receive a lower cost of insurance if you
right vehicle could be lengthy.choose to buy second-hand cars.
* The buyers have no idea if the car was treated.* Although buying new and used cars both provide
Used cars usually have worn consumables such asloans, lease, or money-saving the majority of dealers
hoses, tires, shocks, filters, fans and clutch.who sell used cars often have shorter loan terms.
* Although used car dealers provide a warranty, it is* If your investment is decided based on appearance
only limited to a couple of months unlike purchasing aand gas mileage, choosing a used car would
new car with full warranty. Certain maintenance onguarantee the value and reliability it has provided over
your purchased second-hand car could be morethe years.
expensive.* A used car would provide your dollar more flexibility.
* Purchasing a second-hand vehicle would offer you aCompared from buying a new car that would eat all
lower trade-in value.your finances, buying a second-hand car would allow
* The main disadvantage of purchasing old cars is thatyou to purchase other accessories such as air
it has an unknown quantity. Whether the dealer hasconditioning that would cost approximately US$200 to
worked the vehicle to make it attractive for the test$900 extra.
drive, the buyers are still unaware of the repair bills,Buying your used car could waste your money if you
economical issues, and its reliable transportation.fail to do your research, compare dealerships, and be
* It is difficult to negotiate fair financing terms on anaware of the car's market value. Be a wise used-car
older vehicle.buyer.