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Used car: is it really a good investment?

By stopping on the price, for example, you may be tempted by the purchase of a second-hand vehicle. In this case, the question is whether a used car is a good investment or not? Let’s see what it is and alternatives you can have. Visit us for used cars in salinas.

What does the purchase of a car entail?

Buying a car is an important investment that does not stop at the act of purchase. In addition to the acquisition price of the vehicle, it is necessary to count the cost of its operation which engulfs the auto insurance, the maintenance and the full of fuel. Also, the vehicle purchased at a resale value should be included in the calculations.

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The used car has the advantage:

Since new vehicles are often financed with a car loan, the cost of credit is added to the purchase price of these vehicles. In addition, with the same budget, you can acquire a model of high-end opportunity in place of a new basic model.

-To have lower insurance costs than those of new cars. The all-risk cover is not necessarily essential for a second-hand vehicle.

-Depreciate less quickly when reselling the opposite of a new car that depreciates by ¾ of its value in 5 years.

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Is the used car a good investment?

If one considers in addition to the purchase price the cost of use, the purchase of the used vehicle does not seem to be a good investment. Especially since it can book you unpleasant surprises after the acquisition. For this reason, it is recommended that you buy the used and tested car in good condition from a professional.

There are, however, several types of second-hand vehicles. There are some that are recent and others that are older. Buying a newer used car can be a good deal.

Alternatives to the occasion

With a newer model, you keep the price advantage and the manufacturer’s warranty. As these are vehicles intended to be resold in concession, they profit from a good maintenance often accompanied by extension services guarantee provided by the manufacturers. On the other hand, reselling will be slower than a new model.

The other option is to buy new. Even if you have to go through an auto loan, you are sure to minimize the risks on your investment.

The used car can be a good investment especially when it is recent and able to obtain the widest possible insurance coverage. However, a new vehicle is always less expensive to operate.