Buying a car can be a huge long-term investment with many considerations to keep in mind. If you’re not careful when buying a car, you can easily end up paying more than you expected on extra costs that aren’t directly related to the vehicle itself.
So in this post, we’ll be covering a few tips to keep in mind when choosing between a used or new car.
Used cars will usually cost less
It should come as no surprise that used cars will initially cost less. Note that we said initially–this is important to remember as there will be other costs associated with used cars that we need to talk about.
Used cars may need servicing
You should remember that cars will need serious maintenance and a big service once it passes 30,000, 60,000, and 90,000 miles. You’ll need to find a suitable mechanic to carry this out and it helps if you can get your hands on previous service records to see when you’ll need to take it for a checkup.
New cars come with financing options
When buying a used car, you’ll typically need to pay the majority of the price up front. However, when you’re buying from a dealership, you’ll be offered financing options and huge discounts. Some brands even offer 0% financing if you have a good enough credit rating. This can offset the cost of a car by a huge amount and make it more affordable.
Insurance costs can differ
Lastly, you may end up paying more to insure your new car if it’s used. We’ve added an infographic below to help you get a better understanding of how to get cheaper car insurance.
Infographic source: Cheap Car Insurance
Thanks for reading and y’all stay dandy.
Follow me on Instagram and Pinterest for more menswear inspiration.
(Some of these links may contain affiliate links, so that means if you click and buy something, I get a cut. It helps keep the site going! Full Disclosure)