Whether or not a used car is the right fit over a new car is a major topic of discussion for most car buyers. A key piece of this discussion revolves around the notion that many new cars immediately drop in value (by as much as half) as soon as they roll off of the lot. Juxtaposing this point is the idea that used cars are not as reliable as newer models. The reality of the situation though is that modern cars, trucks, and SUVs have never been more reliable or affordable when compared to brand new vehicles, which means these offerings deserve even more of your trust and attention as you look to upgrade your automotive future.
MINIMIZING THE IMPACT OF DEPRECIATION
As soon as you get behind the wheel, a new vehicle can drop in value by as much as 20 percent. After a year goes by, another 10 percent of depreciation is not uncommon. By the third year of ownership, many new vehicles have lost almost half of their value when compared to the original sticker price. Opting to purchase a used car that is already a couple of years old avoids this drop in value entirely, all while protecting your investment. In short, the best way to maximize your budget and preserve value is to buy and own a car