Thinking of Buying a Used Car?
Are you feeling happy because you have in your possession a driver’s license already? Maybe you are feeling elated that you have finally passed the driving test. Having passed the driving test you can finally get your own car. Finally too you can do the things that you have been dreaming of doing with your very own 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.
Since this is the first time that you will be buying a car then you think that a used car might fit the bill for you already. You might think that all you need is a running car since this is your first purchase. You also don’t want to blow your savings on a brand new car. So you conclude that a used car will be good enough for you. 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.
You need to consider that a used car won’t have much resale value. This means that when you realize that you want a new car you won’t be selling your used car for much value. Thus you are guaranteed not to get back the money that you bought for it. When you decide to sell it even after just a year you will be surprised at how low its resale value is.
The second thing that you have to consider is that there are hidden costs that may come with the used car. Car dealers usually make more money from these hidden costs even from used cars that they are selling. This is even more prevalent when you are going to avail of in-house financing as your way of purchasing the car. The more hidden costs you have when you don’t pay for it in full amount.
The last thing that you need to consider is that the cost of using a used car is high. You see a used car’s fuel efficiency is low. Since you don’t have knowledge about its previous owner then you may not know also how it was handled by that owner. One thing is certain though. It will have low fuel efficiency. Also you cannot expect a used car to run smoothly. This is because it may have been driven for many miles already. These two conditions will result to you having to make more trips to the gas station.