New or Used Car

Only available on StudyMode
  • Download(s) : 482
  • Published : February 17, 2013
Open Document
Text Preview
New or Used Car

Everyone loves the idea of getting a brand new sports car. Just the thought of having that candy apple red Mustang GT makes me feels the happiness of children running free in a candy store. Still as amazing as it would be to go out and buy that dream car right now, buying a new car is a big financial decision that can be a little hard to make. What about buying a new “used” car instead? When deciding whether or not to buy a used or new car its best to know and research the important things, not just how great it looks in your drive way or how good you think you would look in it. The start-up cost for the initial purchase and how the costs changes over the subsequent five years is important to know for the future. The value left after five years of paying for the car is also important because you may be spending a larger amount than you ever intended to in the beginning. When deciding whether to get that brand new car or that new “used” car, you need to make sure that you know the start-up cost for the initial purchase. The American public has traditionally preferred to own a new car; however, the cost of new cars has risen faster than has the earning power of most people. When looking into buying a new car, it can start off way over $10,000. The buyer is usually stuck giving a big down payment, then having monthly payments after to finish paying off the car. Then there is insurance for the car, maintenance and repairs that the car may need, taxes and Department of Motor Vehicles (DMV) fees that the buyer will have to worry about on top of any other household or personal bills they may have. A used car can start off a lot cheaper than that of a new car. Of course with a used car the buyer will still have to worry about things like insurance, maintenance and repairs that the car may need and taxes and DMV fees. Of course one of the benefits of buying a used car, depending if it was purchased off of another person or from a car dealership,...
tracking img