Should You Buy a Used Car?

Would you like to buy a used car and never have to worry about breaking down? Any car mechanic worth his or her salt will tell you that you can never buy a used car with any certainty, but you can almost always minimise your risks. All you have to do is take a few precautionary steps and you can save yourself hundreds, or maybe thousands of dollars.

The days of purchasing a used car from a salesman wearing a sharkskin suit are well and truly behind us. Consumer protection laws mean that purchasing a used car is not only safe but can be a sensible financial decision. Late-model used cars offer consumers great value for money especially when compared with new car prices.

Of course, you still have to be careful and it is always a good idea to obtain a performance and safety report on the vehicle before making a final decision. So, with that in mind here are some pointers to follow when weighing up the decision to purchase a new car or used car.

• New cars suffer the greatest amount of depreciation in the first few years. This makes used cars up to 2 years old are comparative bargain when compared with new car prices.
• Purchasing a used car within a few years of its manufacture offers buyers the chance to access the latest technology at bargain prices. When you compare new car prices, you can save thousands of dollars by purchasing a car with low mileage.
• Most new cars carry a three-year warranty which means that if you purchase a car within the warranty period you still have access to the warranty protection. It’s like purchasing a new car with a limited warranty.
• If you are looking to purchase a luxury motor vehicle but can’t afford the new car prices, a used prestige car may offer you exactly what you are looking for. Many prestige motor vehicles are available at substantial discounts when buyers trade them in for newer models in the first few years of their life. In fact, some prestige motor vehicles showrooms have specialised used car divisions that give you the peace of mind you are looking for when you are looking for reliability.
• Used car financing options can be more limited however and you should obtain detailed information on these costs before you come to a final conclusion. The older a vehicle is, the less attractive it becomes as a financing option and you could end up paying for a loan at a much higher rate of interest.

Although there are no hard and fast rules when it comes to buying a used car there is no doubt that you can save a substantial sum of money and, if you are careful, and still get the car of your dreams.

Have your mechanic check the vehicle over first so you can be more certain you are buying a safe and reliable vehicle.