Automotive
There is controversy among car owners about what age a car has to be before it is the best deal. And while you might find yourself firmly in one camp or another, you may be surprised to know that there is a good argument for most of these positions.
The car you choose will depend on your values and needs, but it’s good to understand every option. You might learn something that you didn’t appreciate before. So strap in and we’ll cover the value of cars at all ages.
New Cars
New cars get a lot of flak in this conversation, but buying new has some obvious benefits. For one, new cars have warranties. When you buy used, you almost always have to foot the bill for repairs. With a new car, not only do you have the performance of a nice new vehicle, anything that goes wrong will be covered by the warranty. New cars do depreciate quickly, meaning that you’ll lose tons of equity in the first months of ownership. But if you like new cars, have enough money to buy them, and don’t want to worry about repairs, a new car may be the best choice. Related articles
Two Years Old-ish
Once we get into the range of two to three year old cars, depreciation still exists but it has slowed. If you buy a car that is 18-36 months old, you may have some of the original manufacturer’s warranty attached to it. Next time you’re looking for the most affordable title loans Dallas has to offer, make sure to find if there are any perks like this still attached to the vehicle in question. Another benefit of buying a newish car is that repairs and breakdowns may not be necessary for a long time still. New cars have ever-higher regulations for performance and longevity, meaning that a car that’s two years old may perform better than a new car would have ten years ago.
Five to Eight Years
By now, depreciation has really slowed. But repairs and maintenance are now a regular part of ownership, just as doctor’s visits are an important part of senior life. However, for people with the mechanical knowledge, the time to repair, and/or the desire to learn how to fix their own vehicle, this can be the best age to buy a car at. At this age, the car probably isn’t totally trashed. It may still run well for years to come, but you’ll be there to fix it if something goes wrong.
10 Years or More
By now, depreciation has slowed to a crawl. The price you pay will be similar to the price you might sell for a year from now. However, that price will not be very high. Breakdowns and expensive repairs could be the norm here. If this is all you can afford, you may get some life out of this vehicle yet, but chances are its days are numbered. Fortunately, if it dies, that’s no big dead. Just buy another junker!
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