Best Used Car Values
Sometimes, buying a new car can prove to be a challenge for a low budget. Take a look at a used car value book and you will realize that I’m right. Keep in mind that when you buy a new vehicle, in the first two years of usage, the vehicle loses around 40% of the market value it had when you bought it. A five year old car is a vehicle that has already lost around 65% of its original price. That’s the main reason why many people decide to invest in vehicles with a few years on board which still look almost new and end up saving a lot of money. So, especially for the ones with low budgets for a car purchase, used cars are an option because they can find such vehicles in great shape and at low prices.
If you decide to buy a five year old car which has already lost 65% of its original value, the driving costs involved will represent only 15% of the car’s original price in the next years of usage. It’s definitely good to know that you are saving money. In addition, if you want to have a better idea of the amount of money you are saving just by deciding to buy a used car you should subtract from the price of a new car, the price of the used car you choose and also take into consideration the fast depreciation during the first years of usage. All you need to do is take the time and find a reliable used car with a great gas mileage.
You can save even more money by not buying the used car from a dealership. There are many other places where you can find reliable used cars at lower prices. An option is offered by the many car auctions which are organized all around the country and are easy to find on the Internet. A special type of auction that usually offers the best prices possible and the best used car values is the repossessed car auction which sells repo cars provided by banks or US Customs. Nowadays, it’s easier than in the past to become part of such an auction. You will only have to apply for a membership at a repo car auction organization. This membership requires only a small fee per year, but helps you find your dream car among the hundreds of thousands of repossessed used vehicles displayed.
If you are interested in some examples of used cars that you would be able to afford even for a lower budget, then I can give some examples. An example would be the Dodge Ram 1500 Long Bed which is known for its price tag that most times is below $5,000, especially if you’re able to find a private seller.
The 2007 Lincoln Navigator is another used car you should consider buying, because it’s a four-wheel model which costs around $52,000 as new, but you can purchase a used model in a great shape for half that price. If the cost of a gallon of gas is $4 you will be able to buy a lot of fuel with the money you saved by purchasing a used model. The 2007 BMW 760Li equipped with a powerful V12 engine is another used car worth choosing. The price for a new 2007 model was of more than $120,000, but nowadays you can buy the used 2007 model for only $80,000. It might seem expensive but it has EPA ratings of 14 mpg in the city and 22 mpg on the highway.
Post tags: Tags: automotive articles, best used car values