Should You Go Used or New?

 ... car carriers ledel finance republic of panama ledel finance co incWhen it comes time to buy a new car, you have to decide whether or not you want to buy a car that is new, or just a car that is new to you. There are numerous advantages and disadvantages to either decision.

Buying a new car has obvious benefits and perks. You are getting the most up to date technology and features, and hopefully a great engine that has fuel efficiency. Your vehicle should only come with a few hundred miles on it, maybe a few thousand from test drives from other prospective customers that decided to pass on it.

The first downside is immediately after you buy it and drive it home. The value of the car can depreciate as much as twenty percent right then. You also are facing many years of car finance payments to make monthly.

Buying a used car is another consideration. There might be monthly payments here, but they are going to be lower and not have the immediate depreciation factored in, so you can get more bang for your buck. In the cases of many used cars, you can just pay for it outright and have no payment. Still, you have to be careful in checking the car out.

At a minimum you need a mechanic you trust to look it over before you buy it, much like you would have a potential home officially inspected before you made an offer on it. Not all of the maintenance might have been done on it, and you have to check out the vehicle history online for accidents and the like. You also need to have some idea how safe and reliable the car is, as well as what your fuel efficiency will be like. Some used cars actually get better mileage than newer ones depending on model and make.


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