Thinking of Buying a Used Car?
Did you finally get your driver’s license? Maybe you are feeling elated that you have finally passed the driving test. Because of your driver’s license you finally have the right to buy a car. Finally too you can do the things that you have been dreaming of doing with your very own car. You picture yourself being able to do some errands around town in that car of yours. You even imagine going on an out of town trip with it. You are just excited to buy your own car.
Well since this is the first time you will be buying a car maybe you are thinking of buying a used car. You might think that all you need is a running car since this is your first purchase. You also don’t want to blow your savings on a brand new car. So you conclude that a used car will be good enough for you. You may have even visited used car dealers already to see the used cars that are on display there. But before you get your used car from a car dealer consider the following first.
The first thing that you have to consider is that used cars will not cost much when you resell it. This means that when you realize that you want a new car you won’t be selling your used car for much value. So it is guaranteed that you will lose money you paid for it initially. When you sell it even after only one year of using it, it will be sold for a low amount only.
The next thing that you need to consider are the hidden costs that come with purchasing a used car. There are hidden costs that car dealers put on the original price of the used car that allow them to earn more profit from it. This is even more prevalent when you are going to avail of in-house financing as your way of purchasing the car. The more hidden costs you have when you don’t pay for it in full amount.
The third point that you need to keep in mind is that a used car is expensive to use. You see a used car’s fuel efficiency is low. You don’t know the previous driver of the car so you don’t know if they are careful with driving it. One thing is certain though. It will have low fuel efficiency. Smooth functioning is also something that you cannot expect from it. Maybe the car has ran for many miles over the years already. Thus you will find yourself going to the fuel station more.