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The age old discussion of whether to lease, purchase new, or purchased used! All three scenarios have their pros and cons and anyone in the market to purchase a vehicle should weigh all the options and review which best fits their needs and financial situations. Here a few good reasons to buy a used car.
1. Best Dollar Value – As much as I love that new car smell and the idea of being a vehicles first owner, the value of a low-mileage used vehicle overcomes the luxury of a brand new vehicle. The day that a brand new vehicle rolls off the dealership lot it takes a very large depreciation in value. Depending on how much money was used in a down payment, it could make the vehicles resale value less than the remainder of loan. A solid, low mileage, used vehicle will retain its value better than a brand new vehicle.
2. Security of a Warranty – Often many low mileage vehicles will have time and miles remaining on their original warranties, which is most times transferable. For used vehicles that no longer fall under a factory warranty, low cost 3rd party warranties are easy to obtain, often a dealership will bundle it as part of the loan for your vehicle. Often the amount of money saved on your car payments will more than make up for any maintenance costs incurred from a vehicle being used. The idea that a low mileage used vehicle will cost more in repairs than a new vehicle really is not the case.
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