Thinking of Buying a Used Car?
Are you feeling happy because you have in your possession a driver’s license already? Maybe you are feeling elated that you have finally passed the driving test. Having passed the driving test you can finally get your own car. Finally too you can do the things that you have been dreaming of doing with your very own car. You imagine yourself getting around town in the convenience of your car. You even imagine going on an out of town trip with it. For you it is simply very convenient to have you own car.
Since this is the first time that you will be buying a car then you think that a used car might fit the bill for you already. You might think that all you need is a running car since this is your first purchase. You also don’t want to spend a lot of moolah on your first car. That is the reason why you have finally decided to just get a used car. You may even have gone to car dealers that have used cars in their shops. But before you pay them do yourself a favour and think about the following three things first.
You need to consider that a used car won’t have much resale value. What this means is that there is not much money for you to make should you decide to sell your used car. So it is guaranteed that you will lose money you paid for it initially. Even after one year of use its resale value will be low.
The second thing that you have to consider is that there are hidden costs that may come with the used car. The hidden costs will be from the dealer where you are buying the car from. This is especially true when you are using financing to purchase it. This is the reason why there are some who opt to pay the full amount in cash to avoid the hidden costs.
The last thing that you need to consider is that the cost of using a used car is high. You see a used car’s fuel efficiency is low. You don’t know the previous driver of the car so you don’t know if they are careful with driving it. One thing is certain though. It will have low fuel efficiency. Smooth functioning is also something that you cannot expect from it. This is because it may have been driven for many miles already. And also since it has low fuel efficiency then this means that you will have higher gas bill.