Cars: Buying Used Versus New

Buying Used Versus New

Conclusion:

The cost of owning and operating a used car will be fifty percent less than that of a new car, primarily because the tremendous depreciation that occurs in the first year of ownership is no longer an issue. Also, the overall cost is much less because there are no financing fees, and operating expenses, often even repair costs and insurance rates are lower. Indeed, price is the primary reason most people consider buying used cars. At the same time, with the increased quality of cars in general, the excellent well-maintained cars coming off leases, and dealer used-car certifications, pre-owned cars are becoming a great value.