if you are going to buy a car then the first question that must come to your mind is whether you must buy a new or used car? This question is quite important for you to decide as it will have a big impact on the budget, financing and other aspects of the car. There are a lot of things to consider and ask yourself apart from budget and financing and one must consider all that before striking a deal. You must examine the financial and life requirements before making the decision on used vs new. Ask yourself these questions before buying a used car in Montclair —
Do you have a trade in with equity or a down payment in place?
If you have a good credit then buying a new car should not be a problem for you. There are lots of incentives such as discounted financing, rebates and cash incentives that are available for buying new cars as compared to the old cars.
Are you ready to take the huge new-car depreciation hit?
Depreciation is more in case of a new car as compared to an old car. Depreciation is the loss in the value of a car over a particular time. Because of this, it is better to buy a used car in Montclair as compared to a new car. A new car can depreciate up to 50% in around three years of time. If the car is just a few years old and gives a price that is almost half as compared to that of a new one then it is worth buying.
Can you afford the maintenance and repair cost of a used car?
While some of the dealers may provide warranty and free maintenance for the initial years, still there is a cost associated with a used car maintenance that is more than that of a new car. So if you can afford to upkeep the old car then it is worth the buy.
Can you cope with the time that a used car will spend in the repair shop?
A used car in Montclair will need frequent repair and if it is major then you might need to keep it for a week or so. Can you afford your car to spend that much time in the garage?
Ask these questions before finalizing whether new or old car.