For most of you, having the brand-new car is the dream. Of course, as much as possible, we want our vehicle to be fresh out from the garage of car manufacturers. Glittering. Sleek. We want our cars to have that when we first get them.
But sometimes, the new ones aren’t always the best. There are tell-tale signs that can indicate that instead of a brand-new, you should get a used and old vehicle. Well, if you are keen to know the reasons behind this claim, better check out the reasons listed below.
It is Practical
One of the most compelling reasons why buying old vehicles is a good choice is practicality it brings. It is quite obvious that used cars are sold at a significantly lower price than their brand-new counterparts. In fact, some used units can go as low as 50% of their original price, which is downright staggering already.
For instance, if the model of the car that you want has a market price of $50,000, getting an old version of it could help you save as much as $25,000. That money is significant enough to be invested in other ventures. Alternatively, you can use the money you saved to buy another car for your family.
Cars Depreciate Quickly
In the past, the value of cars doesn’t go easily–even if five years have passed. Such a trait made them a good investment, especially if you want something that you can use as leverage in case of sudden financial crises.
However, the recent years already indicated that the monetary value of vehicles is already short-lived. They are pretty similar to smartphones already. This year, a particular phone has a ceiling-high price. In the following year, it is already in the middle or bottom of the market. Right now, cars are experiencing the same predicament, too.
According to some dealerships, the value of a new car drops as high as 11% after it left their garage. Therefore, if you purchased a brand-new vehicle for a price of $20,000 in the dealership, it’s the market price when you get home is lowered already to $17,800. Of course, that value will continue to lower the more you drive your vehicle. A one-year-old car will never be the same as before with respect to its market value.
For more information visit: What Are The Benefits Of Owning An Old Car?