You save a lot of money. Most new cars lose their value as soon as you drive it out of the dealer (Unless they're Honda or Toyota) . And there are instances especially when dealing with used super cars, the vehicles retain or increase their value over the course of your ownership.
People sell used cars either because it has some problem in it or because they don't need the car. The second case is recommended. Remember that you will much tension free of getting a scratch but don't drive like the other people out there in India who don't worry about giving a scratch. ITS HIGHLY RECOMENDED THAT YOU BUY A GOOD COMPANY CAR because you don't want to change it within months. But if you can affort a new and good car then go for a new one.
Look on the web first to find several option to go look at and plan a day to view them. (Make sure to do a "Consumer Report" on the ones your interested in and find out important information like "Timing Belts/Chains" and major tune-up mileage recommendations)
Go during the daylight hours (To be fully able to visually inspect).
Take an impartial friend for a second set of eyes.
Car Fax, Car Fax, Car Fax. (Any "holes" in the Car's history on Car Fax should be highly suspect).
Take a Test Drive -
On cars you are definitely interested in and will possibly buy, set up a multi point inspection at either your garage or one impartial. Usually will cost you between $110 - $150 but can save you thousands both in purchase price, and in repairs down the road.
Remember to not over extend your budget . . Cars are not worth anything over a 4 year payment commitment (over that you will pay lots in interest). Go in there with a fixed monthly price at the most of 48 months . . . Find out credit rates at local Credit Unions (they are usually really low rates for used cars. I got a couple at 1.9%).
It depends on if an used car is still good or not, so we have to check it before buy it. If no, sometimes we can buy a bad used car, and it always break down, so check it and better buy it from a friend or someone whom we have known. I was luckily and bought an used car for about 7 years, it is still good in quality, and I bought it cheaper too. That's the reason of mine is : It was from someone who I have known.
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