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Are new cars a better deal than used?
Peace of mind: A new car will likely be more reliable than a used one, even though pre-owned cars are much more dependable than in the past. If a new car breaks down, you can have it fixed for free under the included factory warranty, at least for the first 36,000 miles or three years that most carmakers offer.
How old should a car be to get the best deal?
Purchasing a used car that is just 2-3 years old is a massive saving on new car prices and you get a virtually new car. But if you are willing to potentially sacrifice on styling and features, a five-year-old vehicle offers even more dramatic savings and is unlikely to cost much more in annual maintenance.
What time of year is best to buy a used car?
January is the best month to buy a used car, according to a study from car search engine and automotive research firm iSeeCars. For those hunting for a good deal, late fall and early winter are the best times to buy a used car, while late spring and early summer are the worst times.
What should I look for when buying a cheap used car?
One of the key things to know about buying a cheap used car is that you buy ‘as is.’ Never rely on any representations that the salesperson makes about the car, be it a commissioned employee at a dealership or an independent seller. If you want to protect yourself, you must get a used car inspected before you buy it.
Is buying a new car a bad idea?
Buying a new car becomes a terrible move if you trade it so quickly that you take a bath in off-the-lot depreciation. Secondly, you like driving the truck and use for other things – and there is value to that, regardless of what the beancounters say.
Should you buy a car that’s more than five years old?
Chances are, if your car is more than five years old, you’re looking at some hefty repair bills. You’re also probably looking at owning the car free and clear — which means no more monthly loan payments. Look again at the Civic situation.
Should you buy a car when you’re broke?
Being broke is a common way to start out in the world, especially if you have student loans. A major positive to starting out broke is the frugal habits you can develop during this time. Don’t let car buying destroy your financial future.