4 Advantages of Buying a Used Car
Purchasing a car is exciting! Given the sheer number of decisions you need to make, it can also be extremely stressful. One of the biggest of these is choosing between used vs new models. Here are four advantages to opting for a used car instead of a new one. 1. Used Cars Are Less Expensive This is the most obvious — and likely the most enticing — reason to choose a used car over a new one. When you compare costs, buying used typically yields a higher down payment, a shorter loan, a lower monthly payment, fewer financing fees and less interest charged to you. In some instances, it may even mean you can pay cash for your new-to-you ride. 2. Most of Their Depreciation Already Happened As soon as you drive a new car off the Boise, Idaho, lot, its value takes a nosedive by as much as 10%. As days pass, it continues to depreciate. Most new cars lose 20% of their value by the end of the first year and 40-50% at the conclusion of three years. When you buy used, most of that value-loss has alr...