Saturday, September 23, 2006

Top 10 Reasons to Buy a Used Car

There are plenty of reasons to buy used -- some practical and some just fun. Either way, you'll be saving money compared to the comparable new car.

1) Check under the seats for loose change.
Even if the amount is insignificant, there’s something fun about finding money.

2) Go wild with the bumper stickers – it’s used!
When you buy for cash, or pay off your used-car loan, you can do anything you want to your car, without worrying what the bank or lease company is going to say. So save the whales...or show your support for President Bush.

3) There's no need to dread that first dent in the supermarket parking lot
New cars are scary. They're still perfect. When will the aura of newness be broken? Used cars are comfortable. They have nothing to prove. A scrape or a scratch just adds to their character.

4) There’s usually no need to take the car to the dealership for overpriced service
Some carmakers require you have the car serviced at authorized dealerships or they won’t honor warranty work. Guess who pays for those rows of spotless service bays? Dealership service is often overpriced. And have you ever noticed how dealerships are never located near public transportation? Buy used and choose your own local mechanic.

5) The previous owner has already taken the hit on depreciation
The biggest single drop in car values occurs when a new car is driven off the dealer lot. Used car values tend to depreciate more slowly.

6) Lower insurance rates.
Save on insurance compared to a new car. When you own your used car outright, you can choose exactly how much or how little optional coverage to buy. Driving a beater? Delete the comprehensive and collision coverage and save.

7) A carefully inspected used car can be just as reliable as a new car
The sad truth is that all cars, new or used, generate hassles. New cars require service, too. Even if they don't break down, they're subject to recalls. But if you research your used car carefully, it will be every bit as reliable as a new car.

8) Your friends will think it’s new
They no longer change body styles every year. It’s new to you, and new to your friends and family.

9) No monthly payments!
Something you really won't miss: the monthly payment notice from the bank or auto finance company.

10) If you miss that new-car smell, you can always buy it in can
Yes, they really sell new-car smell in a can. But first, consider therapy.

    

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