A smart man always tries to save money and this eventually makes him wealthy. He always makes the right choice. One smart choice of a smart man is to buy old cars instead of spending huge money to buy used ones. The smart man knows that a car is not an investment, it is, in fact, a liability. So he saves money by not buying an expensive new car.
If you analyze the data from the website of TCA Auto, a quality used cars in Oahu, you will be convinced that buying a used car makes more sense. A 2010 Mercedes-Benz CLS 550 Coupe whose original price was $67000 is now being sold at $17000. A 2010 Jaguar XF Luxury of 46 thousand dollars is now sold at 14000 dollars. The current price of a 2004 Toyota Camry LE $5500 whose original price was $19810. This is the biggest reason why anyone would like to buy a used car.
Why A Used Car?
A new car depreciates faster. When you take the new car out of a dealership, it loses 20% of its value. It loses another 10% of its value in one year. So within a year, a car which was bought with $30,000 loses $9000. The rate of depreciation is not that fast as far as a used car is concerned.
The insurance premium that one needs to pay for a new car is significantly higher than the premium of the insurance of a used car. The sales tax on the price of a new car is higher too.
Things To Examine Before Buying A Used Car
- Is the paperwork genuine? Do the chassis number and engine number match with the numbers written on the registration paper?
- Are the clutch and the brakes okay?
- Do the filters need replacement?
- Was the car involved in an accident in the past?
Things To Do After Buying A Used Car
- Have it checked by an experienced mechanic
- Clean it thoroughly
- Make sure that the ownership of the car now belongs to you
A smart buyer never lets his ego interfere with his decision. He knows that the journey is more important than the car. A significant amount of money can be saved if one buys a new car. With the money saved, he can do other meanigful things in his life.
