Almost every personal finance pundit recommends you should buy a used car over a new car.
“Used cars have lower insurance.” “Cars depreciate fastest in the first two years of ownership.” “Cars are built better than ever so there’s less risk than before in buying used.”
What are the benefits of buying a new car?
Better Finance Rates. While a used car may initially cost less than a new one, the interest rate you pay likely will be higher. To begin with, you wouldn’t get the low-interest financing or cash rebate that usually is offered as an incentive to new-car buyers.
Photo in the article by “Flickr”