If you get the right information and look in the right places to shop, most experts agree that buying a used car is a great investment. A used car will be the best value for you transportation budget, and that value can be maximized if the car is only two or three years old. If you think about that a brand new cars price includes markup for the dealer, cost of advertising that both the manufacturer and dealer have done, transportation fees as well the salespersons commission, you are looking a price that is hugely jacked up and has little to do with the cars real value. Also when you buy a new car, the second you drive it off the lot it losses around 40 percent of its value. By the end of three years, the new car you bought will have lost on average 2/3 of its value.
Another advantage of buying used cars is that you will get lower fees all around. The sales taxes are lower, the insurance rates are lower and the titling fees are lower. If you buy a luxury car that is used you can avoid paying the luxury tax (the luxury tax is when you have to pay 10% of amount a car costs over 32,500) or paying the gas guzzler tax.
Downsides of purchasing a used car are this: You always run the risk of buying some one else's problem. You can always end up with a lemon or bad by, and there are not often always bargains to be had across the board. There will always be that risk. You will run the risk of higher maintenance costs as well as repairs with that used car. I feel however if you are willing to spend the time to do the research on the subject first and find the background information you need, as well as pay the money to receive a professional inspection you can end up with a great car.
Another advantage of buying used cars is that you will get lower fees all around. The sales taxes are lower, the insurance rates are lower and the titling fees are lower. If you buy a luxury car that is used you can avoid paying the luxury tax (the luxury tax is when you have to pay 10% of amount a car costs over 32,500) or paying the gas guzzler tax.
Downsides of purchasing a used car are this: You always run the risk of buying some one else's problem. You can always end up with a lemon or bad by, and there are not often always bargains to be had across the board. There will always be that risk. You will run the risk of higher maintenance costs as well as repairs with that used car. I feel however if you are willing to spend the time to do the research on the subject first and find the background information you need, as well as pay the money to receive a professional inspection you can end up with a great car.
