|

Author:
Jay Bauder

Pros and Cons of Buying Used Cars

Each year, out of all the vehicles bought in the U.S., 41 million are used cars compared to only 16 million new car purchases.

Since purchasing a car is the next financial investment made by US citizen other than housing, it is important to determine if buying a used car is worth your money.

1) CONS - Here is a list of the disadvantages of used-car buying:

* The options of cars are limited, so the search for the right vehicle could be lengthy.

* The buyers have no idea if the car was treated. Used cars usually have worn consumables such as hoses, tires, shocks, filters, fans and clutch.

* Although used car dealers provide a warranty, it is only limited to a couple of months unlike purchasing a new car with full warranty. Certain maintenance on your purchased second-hand car could be more expensive.

* Purchasing a second-hand vehicle would offer you a lower trade-in value.

* The main disadvantage of purchasing old cars is that it has an unknown quantity. Whether the dealer has worked the vehicle to make it attractive for the test drive, the buyers are still unaware of the repair bills, economical issues, and its reliable transportation.

* It is difficult to negotiate fair financing terms on an older vehicle.

2) PROS - On the other side, buying a used car could benefit the buyer in several ways:

* The original owner of the car received the depreciation hit. The market value of the new car decreases from year to year. An average 30% of its value within three years from the time it was bought, so buying their car would save you a lot of money.

* Unlike purchasing a new vehicle with high insurance fees, you will receive a lower cost of insurance if you choose to buy second-hand cars.

* Although buying new and used cars both provide loans, lease, or money-saving the majority of dealers who sell used cars often have shorter loan terms.

* If your investment is decided based on appearance and gas mileage, choosing a used car would guarantee the value and reliability it has provided over the years.

* A used car would provide your dollar more flexibility. Compared from buying a new car that would eat all your finances, buying a second-hand car would allow you to purchase other accessories such as air conditioning that would cost approximately US$200 to $900 extra.

Buying your used car could waste your money if you fail to do your research, compare dealerships, and be aware of the car's market value. Be a wise used-car buyer.

About the author:



Jay is the web owner of http://www.new-cars-in.com New Cars, a website that provides information and resources on searching for new cars, new car pricing, loans, and dealers. You can visit his website at: http://www.used-cars-in.net Used Cars

| Article Keywords: Used Cars In Detroit

	Enter your search terms Submit search form
	Web UsedCarDetroit.org

A Quick Note From The Publisher... If you like the article above, you may be interested in the following article which is also related to Used Cars In Detroit... Used Car Extended Warranties There are lots of used car owners who are in need of protection and coverage of a used car warranty for their vehicles, and yet they do not look for a better coverage. That is why they end up paying higher repair costs when their vehicles start to experience some car problems. You might think that it is a coincidence that your vehicle starts to breakdown when the original warranty is running out. It is no coincidence, and that is why it is necessary to purchase a used car extended warranty for your vehicle in case anything goes wrong. Used car extended warranties protect you from future car problems beyond the original guarantee. Wear and tear, seals and gaskets failures, mechanical breakdowns and other problems caused by overheating can be very costly to repair. These problems can be very disappointing, especially when you find out that your car warranty has expired. You might have thought that your original warranty would still cover the expenses only to realize that it has...