Purchasing a new car is a thrilling process. You can’t wait to hit the street rolling on your new-to-you wheels, but should you buy new or used? If this is your first time purchasing you may be overwhelmed by the wide range of car options to choose from in both fields. Once you have decided on a make and model of car, it is best to look for used options in your area first. Used vehicles are often the best choice, and included here are a few reasons why.
Everyone knows that brand new items tend to lose value immediately after purchasing and this is applicable more than ever with vehicles. Most vehicles lose 20% of their value just by driving them off the lot and lose an additional 10% in their first year. This means, you could be buying a $30,000 car that will be worth only $21,000 after one year. Save yourself the depreciation dent and buy a one-year-old car used.