The average cost of a used car is considerably less than a new one. This is one of the main reasons why for the past year, used cars outsell new ones. But is buying a used car the perfect choice for you?
Here are 3 questions to help you decide:
1. Do you have enough money for a down payment (for a new car) and the monthly fees, insurance fees, and still have savings in the bank?
If you have good credit standing, you won’t have any problem buying a new car with little down payment. Most manufacturers also offer insurance, rebates, and a discounted financing for their valued clients. If you have the money to spare, you can go ahead and buy a new one now but make sure to calculate your finances so you are covered for at least a year of monthly payments and other fees.
2. Can you afford to maintain and or repair a used car?
Most people assume that buying a used car is much like assuming someone else’s car problems. Because let’s face it, the cost of the upkeep of a used car can drain you. It’s best to weigh how much you have to actually shell out for the used car you’re looking to buy, not just the price printed on a online marketplace.
3. Do you have the time to take your car to the mechanic every now and then?
One of the perks of buying a new car is the free maintenance that some manufacturers offer for a few years for new-car owners. Buying a used car, on the other hand, requires you to find or go to your trusted mechanic regularly for repairs. Doing so takes up most of your time, and with Manila’s traffic, what time do we actually have to spare, eh?
Buying a new or used car depends on your financial capability and on how soon you need to use the car. Take as much time as you can before signing the papers for one. And don’t forget to bring a trusted friend or mechanic with you to help you out.
Check out the used cars for sale at Sulit.ph today!