Things to Consider Before You Get that 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. You feel excited because you want now a car of your own. You imagine that you can finally do what you want with a car of your own. You imagine yourself running errands to town in your car. You even imagine going on an out of town trip with it. You are just excited to buy your own car.
Since this is your first purchase of a car you think about just getting a used car. 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. You think that you will get on by with just a used car. You may even have gone to car dealers that have used cars in their shops. But before you pay them do yourself a favour and think about the following three things first.
One thing that has to be considered by you is the resale value of used cars. What this means is that there is not much money for you to make should you decide to sell your used car. So it is guaranteed that you will lose money you paid for it initially. When you decide to sell it even after just a year you will be surprised at how low its resale value is.
The next thing that you need to consider are the hidden costs that come with purchasing a 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. This is the reason why there are some who opt to pay the full amount in cash to avoid the hidden costs.
The third point of consideration is the high expense that comes with using a used car. You see a used car’s fuel efficiency is low. You don’t know the previous driver of the car so you don’t know if they are careful with driving it. One thing is certain though. It will have low fuel efficiency. You also cannot expect that it will smoothly function. You do not know how many miles it has ran already with its previous owner. Thus you will find yourself going to the fuel station more.