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THE BEST REASONS TO CHOOSE A USED CAR

A car is a necessary but terribly pricey purchase – most of the time.
Think past even what you’ll pay up-front as a down payment. Unless you’re one of the fortunate few who can affordably purchase a brand-new car or truck with cash and no questions asked, you’re bound to be locked into years of payments, interest and long-term debt reflected on your credit report. Truth be told, there’s a simpler way that’s also decidedly responsible and advantageous in the long run.
Buy a quality used car. In fact, make a several-years habit of it. You might be surprised at how far ahead your personal finances end up, not to mention how satisfied you could end up being if you’ve done your homework and kept your priorities in check when selecting a vehicle.
Sure, most of the reasons come back to money. But wait! There’s more…

PAY LESS FOR LESS DEPRECIATION

New cars depreciate instantly. Literally.
No, really. A brand-new car’s value drops thousands of dollars the instant its tires leave the dealer’s lot. It has a long way to fall from there, too. Market research demonstrates that, say, a 2008 Honda that cost its very first owner more than $25,000 even before adding taxes and fees could probably be had today for under $12,000. Considering Honda’s notorious durability, that’s a steal even before considering that one buyer ultimately loses about $13,000 (at least) in selling it off. Depreciation never really stops, but it does slow down.

LOWER TAXES

This one’s really pretty cut-and-dried: on a brand-new vehicle, you pay a hefty sales tax on the sticker price. Chances are, it’ll add anywhere from hundreds to upward of $1,000 onto your final price tag.
Now, first, take into consideration the above point about depreciation. You’re saving money over what the previous owner paid by getting the car once its depreciation has leveled off, but you’re also getting it with less (or perhaps even zero, depending on provincial/local laws) sales tax attached.

LOWER REGISTRATION FEES

Typically, license fees are based on a car’s value. Consequently, that’s determined by the car’s make and model year. Even if you’re driving a higher-end used vehicle, if it’s a used car from an older model year, you’ll have evaded the highest registration costs of its initial three or so years on the road.
That amounts to thousands of dollars saved. We’ll get to the biggest boon of all these savings at the end. Stay tuned.

AVOIDING USELESS-FEATURE MARKUP

When you buy a new car, the dealer often augments the price you pay by charging you for features about which you often couldn’t care less. A pinstripe here, a factory-added protective coating there, and all of a sudden, the dealer can justify charging you thousands more than the “features” themselves are actually worth to you.
When a car goes up for sale used, it’s widely acknowledged that these features actually add absolutely nothing and more emphasis is placed on the selling points that actually matter: mileage, service record, engine condition, true market value (TMV) and the like.
Again, keep in mind the point about depreciation. You’ll get the exact same features without taking the hit that the initial owner did.

GOODBYE, DEALER FEES

When you buy a new car, a good chunk of your cost goes into shipping charges, destination fees, dealer preparation to get the car ready for your hands and other unavoidable costs. You get nothing in return except the actual car. It’s all covering the dealer’s overhead.
Used cars come with tag, title and registration fees – the same ones you pay for a new vehicle in addition to all of the dealer fees. You know, the same dealer fees the person you’re buying it from has probably already paid?
Imagine the savings if you’re buying a reasonably new used car with low mileage.

SURPRISING CONDITION

There are a number of ways that you can get a used/”pre-owned” vehicle that’s documented as being in tip-top shape, even if it’s passed the 100,000-mile mark.
Manufacturer dealerships often have an attractive selection of used vehicles that have actually passed thorough inspections before hitting the lot at all, certifying its safety and condition. In many cases, they also come with extensive long-term warranties, some of them lasting seven years or more.
Essentially, you’re getting the servicing extended to a new-car buyer for a lightly used, certified vehicle.

Here’s the kicker, though.
When you buy your used car from Quixl Auto, calculate first what you probably would’ve spent monthly in payments and interest on a brand-new vehicle. Assuming you’ve bought your used car or truck with cash, take that would-be payment amount every month and set it aside into a savings account.
Keep doing that for several years, even as you upgrade to progressively newer used vehicles.
We guarantee that after 10 years, you’ll be in a position to purchase a brand-new vehicle outright. No payments. No interest. Just you, cash and the keys!

 

 

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