Regardless of your age or occupation, if this is your first car or fifth, it is important to take some time and do some research while you are in the market for a new vehicle. Something commonly overlooked is the option of buying a used car compared to a brand new one.
According to reports, the average price of a new vehicle sits at $33,500 and right when you leave the dealership and hit the road in your new vehicle, the value of your car almost immediately drops 11%. A new car’s value also falls nearly 20% each year, lowering the value by almost 30% for the first year.
That sparks the question, why wouldn’t everyone buy a used car? The reasons vary from wanting you to be the first and only owner, knowing what you are buying and not wanting to do the proper research.
While a brand new car should never be looked at as a bad purchase, there are just other options which can save you thousands of dollars and the difference is vehicles is not often far off.
For instance, if you shop around, go to dealerships and find the type of car you want, you shouldn’t stop there. Keep on shopping and look for used vehicles of that same model, depending on usage and mileage, you can save over $10,000 in some cases.
Many people think used cars are broken or beat up. And while that may be true, more likely than not when someone is selling their old car it is still in fine condition and they are probably looking for a change as well. Doing the right research and working with the right people is important to find yourself the best deal out there.
There are many great places to shop for used cars, allowing you to test drive and check out your vehicles before you make any purchase. If you take the time to do the proper research and proper shopping, you will save on your new vehicle. For the new car buyer, it makes sense to buy a used car, saving you money almost immediately as well as in the long run.
Whether you buy new or used, purchasing a car is both exciting and an experience. Make sure to keep yourself and your new vehicle safe and protected. A great way to do this is by purchasing an auto insurance plan. There are many great and low-cost auto insurance plans in the Chicagoland area which will help keep you safe and covered in the long run with your new vehicle.