When You Should Buy a Used Car

Maybe it's time to replace what you're currently driving with something different. Or, perhaps, you need a second or third car for yourself, a spouse, or even a child. Everyone would love to drive a hot new car that has emerged on the scene as the latest and greatest, but this might not always be feasible or even wise. Sometimes, a used car will suit you just fine. Before you decide whether to go old or new, consider your specific situation and evaluate if you'll get your money's worth out of a new or previously owned vehicle. Consider these factors when making this all-important purchase.

Where Are You Going? 

Do you like to travel? Do you love road trips to locations far and wide? If you're the type of person whose idea of a great weekend includes an excursion up some rugged mountain roads or across vast highways to distant locations, a used car probably isn't the best choice. But if your next car purchase is intended for smaller trips such as to work or school, or for the simple day routine treks to the store, a used car should be perfect for you. If you expect less wear and tear on your vehicle, you have no reason to fear getting an older automobile.

Who's Driving It? 

Are you handing the keys to a first-time driver? If so, a used car is an excellent option. Provided the car passes safety inspections (which it should if it's on a lot), you should have no worries allowing your teen to get behind the wheel. Not only will this cost you less, but the insurance rates will be cheaper on a used car over a new one. Plus, your teen shouldn't be putting on as many miles as you would be.

On a Tight Budget? 

If money isn't growing on trees in your backyard, don't feel badly. Many people live from check to check and don't have a ton of money to throw around at cars. If you're in the fortunate and enviable position where money is little, if any, concern, a new car could very well be in your future. But if your pocketbook is stretched, there's no shame in purchasing or financing an older vehicle. Logically, a used car will cost you less up front and per month. Thus you won't be strapped for cash and feeling weighed down by the purchase in the same way you would with a new car. You can easily find dependable used cars at a price you can afford.

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