Shopping for a new car is an exciting adventure but also can involve a lot of running around, dealing with different car dealerships and doing a lot of research. New cars are expensive.
According to reports, in 2015 the average price of a new vehicle was at $33,500 and right when you leave the dealership and hit the road in your new vehicle, the value of your car almost immediately drops at least 11%. A new car’s value also falls nearly 20% each year, lowering the value by almost 30% during just the first year.
That sparks the question, why wouldn’t everyone buy a used car? The reasons vary from wanting you to be the first and only owner, knowing what you are buying and not wanting to do the proper research.
While a brand new car should never be looked at as a bad investment, there are other options which can save you thousands of dollars and the difference in vehicles is not often far off.
For instance, if you shop around, go to dealerships and find the type of car you want, you shouldn’t stop there. Keep on shopping and look for used vehicles of that same model, depending on usage and mileage, you can save over $10,000 in some cases.
Many people think used cars are broken or beat up. And while that may be true, more likely than not when someone is selling their old car it is still in fine condition and they are probably looking for a change as well. Doing the right research and working with the right people is important to finding yourself the best deal out there.
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