When people think of cars that are economical it doesn’t mean just fuel efficiency. It is not the only factor that contributes to real savings. If you think you want to give it a second thought why not buy a used car instead of a new one. However, not everyone has the same frame of mind. There may be many reasons to buy a new car but if you take a look at used cars in san diego you may think of changing your mind. Here’s why:
Buying a used car is beneficial in terms of your financial requirements. The Financial requirements don’t remain the same once you replace your car with a new one. You will have to bear in mind the insurance, maintenance and regular servicing of your car to increase the chances of finding a buyer in the coming years. A little introspection on used cars in san diego may help fetch you the results you are looking for.
Pros and cons of buying a New Car:
Depreciation:
Large manufacturers have a number of lucrative deals on new cars. Just by offering incentive while buying a new car is enough for you to pick up a new car. This may look pretty fair in the initial years of the new-car ownership and may even offer related free maintenance may help for some time.
However new cars are destined to take a dip in its price and drastically loses its value. Depreciation hit won’t even cover the down payment if you think of reselling the car in the market. It’s in fact, true that new cars drastically lose value over time and chances are there that you realize it too early.
Even though you wait for an opportunity to cover the down-payment requirements it turns out as a dead investment
Investment:
Buying a new car there is no good reason to back your financial investment. This can’t be called a wise investment mainly due to the hidden costs that lead to a sharp fall in price just a day after the purchase of the new-car.
The pricing of your car based on the miles traveled causes considerable depreciation in the cost of the model and will look like you lost all the money in a gamble. Moreover, the on-road taxes are high for new cars and will certainly burden you along with the hidden costs. You will for sure not be able to recover all these taxes on the day you decide to sell it.
Maintenance: The maintenance cost of a new car is not that high in the first year but takes a peak within the next couple of years. Replacing new parts to old ones will not increase the value of your car but reduces it giving you no benefit. The price of the spare parts remains the same on average and you don’t get any bonus points for telling them you have a firsthand car.
All of this is a contrast to the old cars, which are not hit by these factors. This is why buying old cars is considered a smart move.
