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Discover the Benefits of Buying a Used Car When people picture a used car, they think of a clunker sitting in the back of an auto lot, with rusted rims and chipped paint. Go Here to Find Used Car Options and Ads Check Out the Benefits of Buying A Used Car It's nice to ride in a car that no one has ever owned before, with that new car smell and feel. But, that scent, brand new upholstery without a single flaw, and single digit mileage doesn't come cheap. The price gap between new and used vehicles was around $20,000. New cars lose a large portion of their value immediately. Some new cars lose as much as 40% of their value during the first year. With a used car, there's no depreciation hit the second you roll off the lot. When a car depreciates so quickly, this also heightens the need for GAP coverage (optional insurance coverage to cover the difference between the amount of your loan and your car???s actual value), which is another added expense. If you buy a new car at the dealership, you're probably going to have fees (like taxes and DMV fees) tacked on. You may also see random other fees, like processing, preparation, and advertising fees, which can add up to a hundreds of dollars. If you buy a used car from a private party, you can avoid some of theses random fees. |
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