| Since new cars suffer
high rates of depreciation in the first year, it is
generally better to buy a relatively new car (at least
one year old) that has already experienced its greatest
loss in value.
Almost-new used cars represent the best values for
automotive consumers and offer most of the benefits
of new-car ownership at lower cost. Here are some of
those benefits:
- Manufacturer's warranty is still in effect. Most
new cars have 36 month general warranties, many have
48 months, and a few have 60 months -- all transferable
to new owners.
- Manufacturer's new-car rebates and low-interest
loans, which are very common, drive the price of used
cars down. Almost-new used cars are currently undervalued
for this reason.
- Optional equipment and packages on almost-new used
cars are generally greatly undervalued, compared to
original cost.
- Safety equipment is up to date, and comparable to
new cars.
- Less risk of hidden problems than with an older
car.
- Many almost-new used cars are lease returns that
have been well maintained and cared for.
- Many used car dealers certify almost-new used cars
with comprehensive inspections and guarantees.
- Leases are readily available for almost-new used
cars, but not for older models.
Careful selection of vehicle make and model can save
you money in the long term. Those brands that have traditionally
maintained high resale values, such as Honda, BMW, and
Lexus, will be your best choice. A relatively low initial
purchase price combined with a relatively high sale
or trade price a few years later will help to minimize
your overall ownership cost.
+++
Al Hearn is owner and operator of Used Car Advisor,
a web site designed for automotive consumers who want
to be smart about buying and selling used cars.
===
Before you start shopping for
a used car, do some homework. It may save you serious
money. Consider driving habits, what the car will be
used for, and your budget. Research models, options,
costs, repair records, safety tests, and mileage through
libraries, book stores, and web sites.
Before you buy a used car whether from a dealer or
an individual: Examine the car using an inspection checklist.
You can find checklists in magazines and books and on
Internet sites that deal with used cars; Test drive
the car under varied road conditions—on hills,
highways, and in stop-and-go-traffic; Ask for the car’s
maintenance record from the owner, dealer, or repair
shop; Hire a mechanic to inspect the car. Paying for
the car: Most people do not realise that they have capital
locked up in their property which could be used for
buying that special car of their dreams.
Release the capital tied up in your home with a home
owner loan. The loan can be used for any purpose, and
is available to anyone who owns their home. Home loans
can be used for any purpose such as, new car, home improvements,
pay of store card or credit card debt and debt consolidation.
Home owner loans are available for practically any
reason. One of the most common types of home owner loans
on offer are debt consolidation loans where the objective
is to reduce monthly outgoings to a more manageable
amount. A UK Home Owner Loan is great if you want to
raise a large amount; are having problems getting an
unsecured loan; or have a poor credit history. Many
lenders look more favourably on people who are home
owners as this demonstrates a commitment to repay a
large amount of money over a long period.
A UK Home Owner Loan is a cheap, low cost, loan secured
on your UK home. It frees up the equity in your home
for you to use on whatever you want.
John Mussi is the founder of Direct Online Loans who
help UK homeowners find the best available loans via
the http://www.directonlineloans.co.uk website.
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Useful Tips On Buying Used Vehicles
