Old Cars vs. New Cars: Which is more affordable?
In tough economic times it makes sense to maximize every dollar. In terms of car buying, that suggests buying a clean used car instead of springing for a shiny new one. But is buying a used car always cheaper than buying a new vehicle? In most typical economic climates, the answer is a resounding "yes." However, the current economic climate is anything but typical. In fact, the deals on some new cars are so generous they actually make a new car less expensive than both a one-year-old used and certified pre-owned version of the same model.
To illustrate this point, Edmunds.com compared the vehicles' True Market Value(R) transaction prices and the interest payments typically made for each vehicle. Because used/certified pre-owned cars are generally financed at a higher rate than new cars, a shopper can actually save money by purchasing a new vehicle instead of a used version in some cases.
When considering financing, maintenance, taxes and other costs, buying a used vehicle may not always be cheaper than buying a new one. If you're having trouble deciding between buying new vs. used, let this car calculator help. Enter the purchase price, loan terms, interest rate, insurance, vehicle age and tax rates to compare the costs of buying new vs used.
Regardless if your vehicle is new or used, Robert's Auto Repair will treat your new-new vehicle, new-used vehicle, or loyal-current vehicle with love and respect. If your vehicle needs mechanical repair, auto body repair, detailing, paint touch-ups, new tires or wheel alignment, call today at 831-373-1534 to schedule an appointment.