Thinking of Buying a Used Car?
Did you finally get your driver’s license? You still feel euphoric over having passed that driving test that you took a week ago. Because of your driver’s license you finally have the right to buy a car. Now you will be able to do what you have been planning to do when you get your car. You imagine yourself getting around town in the convenience of your car. You also begin to picture yourself in it with rolled down windows as you head out for your first 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 see it as a logical purchase for you since a used car will be running of course. You also don’t want to blow your savings on a brand new car. You think that you will get on by with just a used car. You may have even seen some used cars in some car dealer shops already. But before you pay them do yourself a favour and think about the following three things first.
One thing that has to be considered by you is the resale value of used cars. When you get bored with the used car or when you finally have more money to buy a new one the resale value of your used car will be low. So it is guaranteed that you will lose money you paid for it initially. Even after one year of use its resale value will be low.
The second thing that you have to consider is that there are hidden costs that may come with the used car. The hidden costs will be from the dealer where you are buying the car from. This is especially true when you are using financing to purchase it. 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. The reason for this is its low fuel efficiency. You are not familiar with the driving ways of the previous owner of it so you don’t know how smooth it will run in the long run. But you can be sure that it is not fuel efficient anymore. You also cannot expect that it will smoothly function. This is because it may have been driven for many miles already. Thus you will find yourself going to the fuel station more.