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Author:
Mantius Cazaubon

New vs used. Which car is right for you? Consider the following.

Owning a brand new car is exciting. But financially speaking, it makes more sense to buy a used car. As soon as you drive a new car off the lot, it loses a great portion of its value. This is because your car is no longer “new”.

New cars lose about 40% of their value within 3 years, then depreciation starts to slow down. Why not buy a used car and allow someone else to take that depreciation hit?

The previous owner will have absorbed the steepest part of the depreciation cycle. At that point the costs of owning and operating the car will be reduced. The money you save on depreciation will surely go a long way.

Another benefit of buying used is lower cost. By buying used you pay less. You will also save on financing costs, insurance premiums, registration and licensing fees. You don’t have to worry about paying sales tax.

As with everything else there are a few downsides to buying a used car. There are greater chances for costly unwarranted repairs. You may very soon have to do major maintenance on your car, including replacing tires, battery, brakes, muffler, and perhaps even the transmission.

A used car is usually less reliable. You don’t know exactly what you’re getting into and how the previous owner treated the car. However, every situation is different and some used models may actually be far more reliable than some new ones.

If you can pay cash, go the new car way. Enjoy the feeling of knowing you're the original owner of a new car in mint condition. Nothing can replace that feeling.

Otherwise do not hang your hat higher than you can reach. Practice financial prudence. Save your money and comfort yourself knowing that one day you will be able to afford that dream car. One day when money is no object.

About the Author
Mantius Cazaubon offers a guide geared towards helping you find the best deals on reliable parts and accessories for your automobile at www.Toyota-Parts-Guide.com. Visit Toyota Parts Guide.com for auto parts savings.

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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 New Cars... The New Car Warranty - Is It Enough? In this day and age of massive auto recalls by leading auto manufacturers you have to decide whether or not the new car warranty program that comes with the car is enough protection for you. Not all car manufacturers and not all new car warranties are the same. Remember the Yugo? Are you the type of person who can bring your car in for all of its regularly scheduled maintenance on time or do you need reminders and protection against defaulting your warranty benefits because you were late for an oil change? How long is the manufacturer’s warranty for? 60 days? 6 months? 1000 miles? 10,000 miles? It’s up to you to get the information you need before you purchase that new car and compare it to the type of driving you normally do and the conditions you encounter in your area to determine if you should purchase and extended warranty plan and if so, which one? There are companies out there that will work with you and the benefit of using one of them to purchase an extended warranty plan...