Thinking whether or not you are going to buy a new car or a used car? If you’re thinking about the value of money at this point, it’s best to buy a used car. You may think that getting a new car may be wiser. That although it does cost more initially, you can get more out of it. This may be true, however, did you know that new cars depreciate as fast as 11% just as you get it and drive it home for the first time? Yes! That’s a huge chunk isn’t it. Imagine if you paid the average price of a car in 2016, it would be $33,560, according to Kelly Blue Book. So, 11% of that price is $3,691.60. Can you imagine losing that much value on your new car just for driving it home from where you bought it? It may sound ridiculously high, but don’t worry. The depreciation value isn’t like that every day.
Car Buying Tips
Choosing an online auto loan may seem like a great way to save some time while reducing the hassle that often comes with applying for an auto loan in person. Unfortunately, it’s easy to run into scams if you look for a car loan on the web. Although online loans may offer some advantages, the many scams can make navigating online lending difficult. Make sure you protect yourself by learning how to identify online auto loan scams when you’re ready to purchase a used car. Here’s a look at some of the big warning signs you need to know. One of the big warning signs that you may be dealing with an online auto loan scam is that the company asks you for upfront fees. You may be asked to pay processing fees, taxes, initial repayments, or other fees by these companies.
Leasing is quickly becoming a popular way for motorists to get a new vehicle. If you are reading this guide, it is quite likely that you know and understand that leasing a vehicle is different than renting or buying one. Essentially, this is a special type of arrangement where you pay a designated leasing company for the right to drive the car for a specified amount of time. The payments that you provide to the company do not aid in the accumulation of equity in the vehicle. The payment is simply a means of getting approval to drive the vehicle. At the beginning of your lease, you are likely to incur numerous fees. These include title fees, security fees, and acquisition fees. Ultimately, leasing is a waste of money. There are several reasons why buying is better than leasing. In this brief guide, you will learn about 5 of those reasons.