Secondhand Cars: Are You Really Saving?
August 13, 2014
While some drivers prefer to trade in their vehicle for a new one every two years, others conclude that it is more practical to buy a secondhand car and drive it until it gives out permanently. Why? Because if you’re able to keep repairs at a minimum, you’ll end up saving a lot of money compared to those aficionados who live for those sexy paint job, loud exhaust system, and macho engine.
However, it must be noted that all cars are different and can suffer consistent damages if not maintained properly. So how can you make sure that you’re actually saving as you drive that secondhand car? Well, read on to find out!
Using simple math, if you buy a new car at 20,000 and then sell it after two years, it’ll cost maybe half its original amount. However, buying a secondhand version of the same car without damages on will cost significantly less. Maybe about 3/4 from its original price – give or take.
Between keeping a secondhand vehicle and acquiring a new one every two years, you will definitely save a lot of money with the former option provided that you’re able to keep the vehicle in tip top shape. How exactly? Well, if you sell a two-year-old car, you’ll be selling it for about half its price, even if it’s still in pristine condition. You’re left with much less in your wallet and you’ll be forced to shell out more cash to buy that spanking new model.
On the other hand, those who kept their secondhand vehicles functioning don’t have to spend for anything except for regular maintenance, which isn’t that expensive to begin with. And hey, if you’re not too concerned with style and trend, then you should continue to be a happy driver for years to come.
The thing about maintaining a secondhand vehicle is it will stay as comfortable and drive and look the same way as if you just freshly bought it from the showroom. It’ll require you to regularly schedule your vehicle for routine check-ups, but at least the effort will pay off in dividends. And if you’re vehicle is free from extensive repairs, you’ll save a ton of hassle and have free time to pursue other things. Add this to the fact that older vehicles were built to last longer and you now have a good reason in keeping an old car around longer.
While it isn’t as obvious now, you do save a lot of money buying secondhand vehicles. As soon as you have the right model and keep it in good shape, then you should be good for the next few years. Stay safe, fellow driver!