When it comes to buying cars you have a tough decision to make even before you get to choosing a model, will you go for new or used? This is a question that I have had to ask myself on a number of occasions, but it mostly comes down to how much money you have and if you are able to get finance.
The used car market has always done well, and one would presume that the gap has grown in recent years. This is because new car sales slumped while we were going through a recession.
The U.S. government tried to help new car sales by offering a Cash for Clunkers program, which was seen as a success – but not to all those perfectly good used cars that had to be scraped. Car makers also had their own incentives running, which also had a positive effect on sales.
There is only a small portion of us who have the money to go and purchase a new car, as they like to know that they are the only person to have owned that vehicle. That is all well and good, but you will have to pay much more for the privilege.
If you are like me, then you would much rather purchase a vehicle a couple of years old. If you do it right you can still get a car that looks new and you will be able to save yourself thousands of dollars in the process.
In the end it is down to personal preference, as well as what your financial state is. Do you prefer new or used cars?