People love new cars. Having a new car means that one is becoming more affluent. That means one has more money. However, while buying a new car is great, it might not be cost-effective, at least not when there are options.
For many people, buying a new car would mean having to have it financed partially. That isn’t exactly a wise thing to do, as cars depreciate over time. And cars depreciate rather fast as well. Its value goes down dramatically, especially if it’s used daily. If there’s reason to sell the car, later on, getting the price that has been paid for it originally would not be possible.
Another thing when buying a new car that is financed is that the car isn’t exactly owned by the driver yet. It is sort of like being on a lease, and the driver is already using it. This doesn’t even add the likelihood that it an accident might happen, or some mechanical issue might come up. Once those happen, then there would be additional expenses as well on top of paying for the installment.
There is also the issue of warranty. Most installment plans take several years before full payout. Warranties last for only one or two years. Before the full payment has been made, the warranty would have run out by then. As already mentioned, that would mean additional expenses on top of the installment being paid. The driver would be at a disadvantage then.
Buying a new car isn’t all that bad, assuming though that the car has been bought full cash. Not too many people do that these days. If one would buy a new car, then buying it at its full price would be much better if one could afford it. Installment plans also have an interest, which adds to the price of the car. So what one is paying is actually the full price of the car plus the interest. Not exactly the best deal in that regard then.
There is an alternative though to buying a new car, and that is buying a used car. Many owners take care of their car, and a used car that is well cared would be as good as a brand new car. There might be issues, but if the owner takes care of the car then those issues would likely be minor.
Used cars are naturally less expensive than brand new cars. Financing would not be much of an issue, or else it could be bought at full price since it is much cheaper. It might not have a warranty, depending on how old the car that’s being sold is. That shouldn’t be much of an issue though as warranties run out anyway after one to two years.
Part of owning any car many times means that you need to upgrade the sound system to your liking as most cars out of the factory have basic sound systems that do not sound very well. If you are thinking of upgrading your car’s sound system then you should check out speakerxpert.com. They will help you make a good decision on what you need and what is the best on the market today.Read More →