One recurring, slightly-heated discussion in my home revolves around cars. Am I a car person? Definitely not. But my better half is obsessed with them. It's healthy that we're getting our opinions out now as we're attempting to be more financially compatible [1], and it really does feel like most conversations end on a progressive note.
I truly think used cars are in my blood, because it's really difficult for me to see why a new car is better than a gently used one. The Motley Fool and I may just be related, as it recently published five solid reasons why a used car is a good idea [2]; in my opinion, number two provides the strongest argument against new cars.
- Cars are more reliable than ever. Pick up a copy of Consumer Reports annual auto issue to study reviews of the best used cars.
- Avoid the worst of the depreciation hit. A car's value goes down the most during the first two or three years of ownership. Purchasing a car that's only a couple years old will last you for many years and miles and you'll save a ton.
Check out three more reasons to buy a used car when you .
- More car for less money. The Fool says: Buying used lets you take advantage of someone else's depreciation hit. You can buy a fancier used model for the same price as a new, cheaper car.
- The Internet helps you find what you want. Peruse the used listings on sites like AutoTrader.com and Cars.com before visiting dealerships.
- Dealer "certification" programs. Used cars that are certified are inspected by the manufacturer and sold with a warranty. These cars will come with a higher price, but you'll avoid the costs of having to deal with any possible problems hidden by a private seller.
Source [3]