Will You Buy A Used Car Or New Car?

By Jack Logan

In today's tight economy it makes dollars and cents to buy used car rather than a new car. For one thing can you afford a new car payment? New car smell is nice but it costs a lot more money for that smell. These days there are many good used cars available. You want to decide if you want to buy from a car dealer or private party. And of course buy the best car for your needs. Cars are for transportation nothing more. Leave your emotion at home when you are out looking for the right vehicle.

Also, if you are thinking about value appreciation, forget about a new car. It will shrink if value by about thirty percent once you drive it off the lot. Of course you will still be responsible for one hundred percent of the agreed upon price.

Auto insurance is also higher with a new car compared to a used car. Also, many used cars still are under the manufacturer's warranty. You will find most American cars have a 12 thousand or 36 month warranty.

Under warranty your vehicle will have the important basics covered like the drive train, brakes, cooling system, and the like. If you buy your used car from a dealer under warranty the salesman will offer you an extended warranty. Try not to buy it under your auto financing agreement. If they are combined you will be paying interest on a bigger loan amount. Also, research the car you are buying. If there is regular part that breaks down make sure the extended warranty covers it.

Also, do a little fact finding. Research what breaks down on your make, model, and year of the car you are buying. If it has a good track record you might want to skip the extended warranty. If there is a regular problem with any major part of the car you want to make sure the extended warranty will cover it. If so then consider buying the extended warranty but buy it separately from your auto loan so you are not paying extra for it because of your auto loan interest rate. If you are buying from a private party you want a qualified mechanic to look the car over.

If you are buying a used car you want to make sure you have a trained licensed mechanic look at it before buying it. A mechanic will find problems you cannot or even know about. For instance a torn CV boot can cost about $350 to replace. The cost is in the labor charge. It is found around the wheel. If it is torn it will cause the front end to shake when you brake from high speeds.

This does not mean do not buy the used car, but you will want to negotiate with the private seller to cover the repair cost. Or you can ask him to repair them before you buy at his price. This is one example of why you need a licensed mechanic to look the car over. He knows what to look for.

Remember in most jurisdictions when you buy a used car you are buying it as is. This means you have no legal recourse if something goes wrong after you buy it. A new car might not be in your budget but know how to buy used car to make sure you are not sorry later. - 29952

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