Should You Buy a New or Used Car?

Buying a new car is an exciting time in life for so many reasons. For example, a shiny new car is dependable transportation that you can be proud of for years. On the other hand, you may get a much better deal when you buy a late model vehicle which has been previously owned. Before you check out your local GM or Ford dealership in Columbia SC for new cars, consider what a used car dealer can do for you.

Price

Can you afford the price of a new vehicle? It’s not unusual to pay as much as $30,000 or more for a brand new car these days. This is simply beyond the price range of many families. On the other hand, you can purchase a one-year-old vehicle in good condition for between 12 and 20 thousand dollars and still enjoy the benefits of a factory and extended warranty.

Depreciation

As soon as you drive away from the Chrysler, GM or Ford dealership in Columbia SC your new car depreciates in value an average of 20 percent. This means your beautiful $38,000 vehicle is now worth $30,400 when you get home. This is like throwing away more than $7,000. Can you afford to do this?

Suppose you decide to buy a car about one-year-old. This vehicle has already gone through the immediate depreciation and you stand to save at least $7,000 or more. This can drastically reduce your monthly car payments to make your vehicle affordable.

There is another way to save with depreciation. Suppose your price is $8500 lower than a new car and the sales tax in South Carolina is six percent. You are saving $9,000 by purchasing used.

What about New Cars?

There are some benefits to buying new cars. For instance, you are the only owner so you can be certain how the car has been treated. You may be able to find lower interest rates for new cars. For example, a Ford dealers in Columbia SC may offer factory financing deals. Plus, it is possible to order a new vehicle with all the features you want.

Why is Used Better?

Add up the advantages of buying a used late model car and you will see it is a cost effective alternative to the high prices of new cars today. You can be assured that your vehicle has been fully inspected and will provide you and your family with many years of dependable service.

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