The next big purchase after your house is a car. But, when you want to manage your finances responsibly, buying a brand new model may be an unnecessary expense. The price of a new car is extravagant and other things such as DMV fees, add-ons, etc. increase its cost. When you are thinking of making a purchase, look beyond the sale price and consider the total cost of the product. It will give you a better idea of your total spending.
An Oldie but a Goodie!
On the other hand, you can always buy a used car because it is affordable. And, if you opt for a model that is not more than two years old, it will help you to save cash without sacrificing on quality.
Follow the Checklist Today to avoid the Blame-Game Tomorrow!
Before you buy a used car, it is better to tune out the distractions and focus on the task at hand. It is your responsibility to check the vehicle properly. And, a checklist is a good way to assess its condition. Consider the following things before making a purchase:
· Is it easy to get in and out of the car without banging your head?
· Is there enough headroom and leg-room?
· Are the seats adjustable and comfortable?
· Check the rear-view mirror and the side-mirrors. Look for potential blind spots.
· How old are the tires?
· Are the brakes doing their job?
Buy a Used Car: Save Money
Buying a used car will not affect your financial health in a negative way. Instead, it will enable you to become a proud car owner at an affordable price. Apart from savings, you will also get to enjoy the following benefits:
· Low Price Tag
It is less expensive compared to a new car. Low price tag allows you to buy a reliable model. You can enjoy the pleasure of driving a comfortable and reliable vehicle by remaining in your budget.
· Low Depreciation Rates
Once you drive a brand new model out of the dealership lot, its value will drop immediately. A car loses value with each passing month. But, when you buy a used car, you will be able to enjoy the benefit of a low depreciation rate.
· Low Sales Tax
When you buy a used car, you have to pay the sales tax. But, as the value of the car is low, the sales tax amount reduces phenomenally.
· Avoid paying Money for Add-Ons
New car buyers think it is necessary to install add-ons. They are nothing but useless things that cost you money. They don’t increase the resale value. If you buy a used car, you can avoid paying extra money for add-ons.
· Low Insurance Rates
The age of the vehicles affects the insurance rates. Insurance rates are low for a used car making it a good option for a buyer. And, low rates can add up your savings over a few years.
New cars smell great, but how much is that scent really worth? Buying a brand new model is a really expensive affair. It can harm your financial health. If you want to make a sensible purchase, consider buying a good-quality used car. You might have to spend a little extra time in finding a used car in good condition. But, with all the additional benefits, you will thank yourself for making the decision.