¶ … buying a car is brought up, excitement results from it, after all there is nothing like that new car smell. There are an abundant amount of reasons to purchase a new car. Some of these include the latest safety features, higher gas mileage, accommodating a growing family, the stylish and appealing appearance of cars etc. With today's saturation of car advertisements and marketing in the media, there is no shortage of reasons to consider buying a new car. Another more subtle option a potential buyer can consider when preparing to buy a new car is simply keeping and driving their current car. Keeping one's older model car can actually provide some benefits.
One of the main benefits of keeping and driving your old car is simply cost. Older vehicles are more likely to breakdown but they actually cost less to operate and maintain than newer vehicles. Even...
In addition to spending a large sum of money for bringing a new vehicle home the buyer stands to lose out due to the depreciation of value that the vehicle will experience in the first five years of usage. Immediately after leaving the show room floor a vehicle begins to lose its value.
Insurances costs are also another element a potential buyer should consider. In most states insurance policies for used vehicles require only liability insurance. This type of insurance is considerably cheaper the mandated full-coverage insurance that is required on new vehicles bought with loans from finance companies. In addition to this,…
