Fighting the Urge to Buy a Brand New Car

by Darwin on April 25, 2017

Buying new cars is exciting. There’s nothing like taking a brand new vehicle out on the road. It’s a great way to impress your friends, and it has notable impact on your self-esteem. But is buying a car worth it when you only consider the financial data?

 

Usually, no. New cars are satisfying to buy and drive. If that satisfaction is worth thousands or even tens of thousands of dollars to you, per year, feel free to buy away. New cars have the additional benefit of being very reliable, and often having 2-4 year warranties on repairs.

 

By now, we’ve just about exhausted the practical benefits of buying new. New cars lose value very quickly, often losing value by half in just a few years. This is a hard pill to swallow when you sell or trade in a car that you bought when it was new. You remember the original sticker price, and it stings when you get far less back just a couple of years later.

 

Used cars lose value considerably less quickly. While there are some old cars which are undependable, used cars of recent vintage have all the benefit of recent advancements in car design and manufacturing. They simply break down than used cars did decades ago, because cars as a whole are more reliable, no matter who makes them.

 

This means that a used car, just a couple of years old, from a seller such as J.D. Byrider will be just about as reliable as one that is brand new. In terms of drivable miles that remain before the car finally goes kaputt, there is very little difference.

 

The only way to truly cash in on this savings, however, is to understand the car you are driving. Don’t just take it for granted that every car will perform the same way over the months and years that it remains in your ownership. Do research about how these vehicles age, and the costs associated with repairing and maintaining them. Some cars are designed to have owners who are very involved in their upkeep. This doesn’t mean they’re bad cars – they just have a different design intent than a car which is meant to be driven for a decade by someone who knows nothing about cars.

 

If you do sufficient research to find a car that will serve your needs perfectly, which will be within your budget both to buy and to maintain, and which is available for the right price, there is absolutely no reason to buy new. The more you are willing to dig through local and regional listings for prospective deals, the more money you will end up saving.

 

As always, the more you go off on your own, the more money you can save but the more risk you also incur. Staying with a reputable area dealer will get you a car that has already passed multiple professional examinations, and may even bear a seller guarantee. You won’t get the same from Craigslist. So buy used, but understand what you’re buying.

{ 1 comment… read it below or add one }

Susan April 26, 2017 at 11:58 am

I spent years researching a new (to me) car. I ended up buying a brand that would be out of my reach if new (but known to be very safe and reliable), but was right in my price range as a 3-year old car. I couldn’t be happier. I paid less than half price of the sticker. Took a small loan (just because I haven’t had a loan in a long time and my credit score was reflecting that), but I sleep well at night having a reliable car and no big debt hanging over me. I will probably never buy new again.

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