When it comes down to buying a new car, you have a number of choices available to you. Whether you should go for a new car or buy a used one. This is an important decision which can create a big difference in your savings for the next few years to come. You should realize that a car is a depreciating asset whose value decreases over the years. When you purchase a used car at mike’s auto sales in salinas you get to save a lot on monetary value.
Advantage of a used car:
In buying a new car at mike’s auto sales in Salinas, there are many benefits that pertain to that choice. A few are as listed here.
- When you buy a used car you let someone else take the depreciation hit for the car.
- When you plan on selling your used car, you might be able to sell it for nearly the same amount you brought for it.
- In the process of buying a used car, you will be able to get a financial loan from your bank easily and you will not get a car that will have any depreciation value.
- The monetary loan you avail from the bank will also have a zero interest from the bank.
- When you purchase a car that is used, it is easier to pay the cash and save a lot of money.
- You can review customer reports and make a purchase on a car whose model has been doing well in the market.
- Depending up on the model of car you plan to purchase, you will have to pay less for insurance than that which you have to pay for a new car of the same model and make.
- If you are a person who is in their early twenties, you can save a lot on the insurance rates if you buy a used car.
Disadvantages of a new car:
When you speak about the advantages of a used car, you should also know about the disadvantages that lie in making a purchase of a new car. Some of them are as listed here.
- The huge disadvantage of buying a new car is that its value is lost once you drive it out of the lot.
- The depreciation of a new car takes place during the first two or three years of its purchase. This means that you are throwing away several thousands of bucks which you will never be able to recover.
- Financially when it comes to buying cars, you can buy a new car when you have money which you do not mind losing value of. When you buy an old one you can avoid that issue.