How To Know If We Should Buy New Or Used
In 2022, it’s confusing if you need a car. I keep asking myself, How can I know if we should buy new or used? Are you in the market for a new car? As you’ve found by looking, prices have risen and inventory has gotten smaller. I want to get the best car for my dollar, so let’s see what we can learn to help make an informed decision.
Our last car purchase was a used car. We don’t usually buy used cars, but we were given a small insurance payment when my husband was hit by another car. We found a used car at that low price and drove it for over 5 years. There were multiple repairs needed over those years, so it wasn’t a great value and we sold it. Now we own only 1 car and it’s 11 years old. Because it’s a Honda, we’ve had only one repair during that time.
We would like to get another Honda, but there aren’t many available new cars in our area. We will have to drive a longer distance to find a model that we like. There are three choices when making a car purchase: new, used, or certified pre-owned.
You may visit a used-car lot, search the for-sale ads, or buy from a relative or friend. When buying a certified pre-owned car, it’s better to purchase through a manufacturer’s sponsored program. Buying new gives you extended warranties, the knowledge that no one else has driven the car and no damage has been done, and that new car smell. Some drivers prefer to lease a car, but leasing is not a great financial decision. It can be the most expensive way to drive.
Before you make a purchase it’s better to investigate what type of financing you will need. Some people pay cash, but most need a loan. The dealer will offer financing, but go ahead and shop around for the best deals. If you plan to get a 4 year loan, do the math and see that you don’t finance for more than 10-15% of your monthly income.
If you are paying a higher percentage per month you’re probably spending too much for your car. It’s always better to live within our means, whether we’re buying a car, a house, or anything else.
If getting a hybrid or all electric vehicle is important to you, a new model will offer you all the bells and whistles. These tend to improve more every year, so do a little more research to see what high-tech specs impress you most. While you’re looking, invite the kids to get involved in the car search by playing some fun car computer games.
New cars always cost more to insure, too. Getting amazing gas mileage with a hybrid could help balance the higher car payment. There are so many things to consider and a car buyer needs to weigh all the pros and cons. There are so many things to consider and a car buyer needs to weigh all the pros and cons. Another thing to think about is perhaps getting a lawyer for all your car-related legal issue that may arise.
If you’re a car owner, it’s important to have a lawyer on hand in case of an accident. Car accident lawyers can help you navigate the complex legal system and get the compensation you deserve. They can also help to protect your rights if you’re accused of causing an accident. Even if you’re not at fault, an experienced lawyer can negotiate with the other driver’s insurance company to get you the best possible settlement.
But when picking the right car accident lawyer, it’s important to consider one that has in-depth knowledge about the road terrain, landmarks, etc., in the area. Additionally, it will be best if your car accident lawyer is well-versed in the state or local laws. Your lawyer’s track record in dealing with road accidents should also be another point for consideration if you’re to get the best legal assistance.
Inflation has caused a hike in new and used cars. There is a problem with used car availability so that also pushes the prices higher. Some experts believe that car prices will improve by the end of the year or early in 2023. If our Honda keeps driving, we’ll probably wait until then to make our next car purchase.
@2022, copyright Lisa Ehrman
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- Lisa has been blogging since 2013, and loves sharing resources and ideas for living a simple life. To get free printables, bonus words, and more - sign up for the newsletter.
Thank you for sharing this informational guide on the merits of buying new or used
Thanks for this article. It was very helpful.