Thinking of Buying a Used Car?
Did you finally get your driver’s license? You feel happy for having passed with flying colors the driving test that you have just taken. You feel excited because you want now a car of your own. Now you will be able to do what you have been planning to do when you get your car. You imagine yourself running errands to town in your car. You also begin to picture yourself in it with rolled down windows as you head out for your first out of town trip with it. For you it is simply very convenient to have you own car.
Well since this is the first time you will be buying a car maybe you are thinking of buying a used car. You probably think that it will be a good buy since all you need is a running car and a used car will run. You also don’t want to blow your savings on a brand new car. So you conclude that a used car will be good enough for you. You may have even visited used car dealers already to see the used cars that are on display there. 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. This means that when you realize that you want a new car you won’t be selling your used car for much value. So it will be a certainty that you won’t get back the full amount that you paid for it. Even after one year of use its resale value will be low.
Another point of consideration when buying a used car are the hidden costs that often accompany t the process of buying it. There are hidden costs that car dealers put on the original price of the used car that allow them to earn more profit from it. This is especially true when you are using financing to purchase it. The more hidden costs you have when you don’t pay for it in full amount.
The last thing that you need to consider is that the cost of using a used car is high. 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. But you can be sure of its 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.