New Car Blues, Old Car Cues
Everyone loves a new car -- we've been programmed to love them. But, if you're thinking about buying a new car -- think again. Though it's pretty and smells, well, like a new car, it could well be the worst investment of your life. Don't let the allure fool you - think of it as a siren's song, calling you to the rocky shores of harsh reality. When all is said and done, you could be paying nearly twice the cost of the car when your financing is complete.
Would you pay $60,000 for the privilege of driving a $30,000 car? When you have your senses about you, of course not. But, the new car industry is carefully positioned -- on television and in magazines -- to sell you a car you can't afford and frankly, don't really need. Think of it as a kind of automotive credit card offer. It sounds good, but once the interest rates and late fees are done with you, you'll be paying two or three times the net value of the balance.
Take a step back from the boob tube and think. Instead of watching the latest model race around TV, you'd be better off looking for some used cars for sale. This doesn't mean you should set your sights on a clunker without a tailpipe. No, no, no. Even last year's model would make a better investment that this year's. Go back a few more years, and suddenly that car that costs $20,000 new only sets you back $2,000 used. It's called depreciation and it's either your best friend or worst enemy.
The exact figures vary, but the general rule of thumb is a car loses about 15% of its value every year. So, a five-year old car is worth rough half as much as the newest model. The trick is finding out the age of the car. Most drivers are convinced that a used car will break down more often and cost more to maintain in the long run. This is neither here nor there. In some cases that may be true; it all depends on the durability and invested upkeep. An owner who regularly changed the oil and kept the car clean at all times will have a more valuable and dependable car to sell or trade in.
If you want an affordable, reliable car, this is essential You need to do you research, test drive each car on your list, and ask questions -- lots and lots of questions. If Slick Rick on the lot is squirming every time you ask a question, you need to leave and find a new lot. Once you have established the provenance of the vehicle, and it's verifiable and reasonable, you've got the lead on a great, durable car that will not drive you into bankruptcy. - 21392
Would you pay $60,000 for the privilege of driving a $30,000 car? When you have your senses about you, of course not. But, the new car industry is carefully positioned -- on television and in magazines -- to sell you a car you can't afford and frankly, don't really need. Think of it as a kind of automotive credit card offer. It sounds good, but once the interest rates and late fees are done with you, you'll be paying two or three times the net value of the balance.
Take a step back from the boob tube and think. Instead of watching the latest model race around TV, you'd be better off looking for some used cars for sale. This doesn't mean you should set your sights on a clunker without a tailpipe. No, no, no. Even last year's model would make a better investment that this year's. Go back a few more years, and suddenly that car that costs $20,000 new only sets you back $2,000 used. It's called depreciation and it's either your best friend or worst enemy.
The exact figures vary, but the general rule of thumb is a car loses about 15% of its value every year. So, a five-year old car is worth rough half as much as the newest model. The trick is finding out the age of the car. Most drivers are convinced that a used car will break down more often and cost more to maintain in the long run. This is neither here nor there. In some cases that may be true; it all depends on the durability and invested upkeep. An owner who regularly changed the oil and kept the car clean at all times will have a more valuable and dependable car to sell or trade in.
If you want an affordable, reliable car, this is essential You need to do you research, test drive each car on your list, and ask questions -- lots and lots of questions. If Slick Rick on the lot is squirming every time you ask a question, you need to leave and find a new lot. Once you have established the provenance of the vehicle, and it's verifiable and reasonable, you've got the lead on a great, durable car that will not drive you into bankruptcy. - 21392
About the Author:
Don't let the new car smell lull you into making one of the worst investments of your life. Find some used cars for sale online and begin your smart search for an affordable car.
posted by X - Men @ 4:15 AM
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