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Buy a new car or a used one?
0
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asked
Aug 24, 2020
in
Other-Cars/Transportation
by
garold
(
1,320
points)
I have enough money for a used car, and if a new one, then I need to take out a loan. Help me with tips please
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1 Answer
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answered
Aug 24, 2020
by
Minty
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132,850
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If you have enough money to pay in cash for a good used car then you should go the used car route and buy a good used car.
When buying a used car you save a lot of money due to depreciation.
When you drive a brand new car off the lot it loses a lot of value and your new car is used already then anyway.
What I do when I need a new car is to buy a car that is maybe 2 to 5 years old that is in good condition which saves me a lot of money.
I drive my cars until they are no longer worth fixing so I get my money's worth out of them.
Buying a new car is okay if you can afford too but I would recommend buying a good used car.
I have a trusted mechanic look over any used cars I buy and if it's just something cheap to fix then I will still buy the car but if the repairs are gonna get expensive then I don't buy that car.
When you take out an auto loan you pay a lot of money in interest.
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