Buying a new vehicle can be a very exciting yet stressful time for people. It’s exciting to get anything new, right? It’s also stressful because financially speaking it’s one of the biggest decisions we make and because of all the choices out there.
Technology and design advance every year. We all want to drive the latest and coolest car. We want to have the latest cell phone, etc. That’s human nature.
Unfortunately when we buy anything brand new it cost more. Since buying a vehicle is such as huge financial decision not everyone can afford to buy a brand new vehicle.
On average new cars lose 60% of their value within the first four years. Only those who are filthy rich can afford to take a hit like that in terms of depreciation.
Other than not paying nearly as much depreciation there are a lot of other advantages to buying pre-owned over new. You don’t pay as much in terms of financing costs and your insurance will cost you less.
So next time you are looking for a new vehicle resist the temptation to buy brand new. Save your money and buy a pre-owned vehicle.
