News For This Month: Automobiles

Posted on Posted in Auto & Motor

New Car or Used Car: Which is More Beneficial If you want to know what the difference is between buying a new and a slightly used car is that reality that the moment you get your new car then it starts depreciating enormously. The proof, imaging selling one at once and you will see how much has been written off from the price you got it for. You would realize that the only difference between the brand new and the slightly used one is the smell and nothing else. And not only the depreciation value of a new car, a zero meter car will also incur other associated charges and subsequent cost not comparable to a used car. Which means, that it is really not just the matter of the sticker price but what goes with it as well. Thus, the only benefits to buying a new car is the psychological satisfaction of bringing home a new car to show off to your family, friends, and neighbors which is such a fleeting or short term benefit. If you take out this psychological benefit out of the equation, you get both the short and long term benefit which are given below. Sales tax for new cars are non-negotiable and therefore is a big issues. There is seven percent tax in New Jersey but this really depends on your state. There are other fees for brand new cars collected by the New Jersey Department of Motor Vehicles.
Getting Down To Basics with Automobiles
Next is the idea of depreciation value. Let us consider the scenario of you buying a million dollar brand new car and that you have used it for a year. In one and a half years-time, its value would be somewhere around six hundred to seven hundred thousand dollars instead. Which means that the amount of the car depreciating after two years is enough to buy a two year old depreciated used car. So after two years the value o your car would be equal to a two year old depreciated car, so why spend a million for a brand new one? The three hundred thousand saving is a big saving!
A Brief Rundown of Vehicles
The new features on brand new cars are responsible for making their prices soar but on your part if you buy a used car you can even have these same features installed by an after-market installer which can cost you a lot less. You can find new features like protective coating, additional sensor, or new look features which you can find in after-market shops. Dealers charge is another thorn in one’s side when you buy a brand new car, and this is especially true when it is bank financed. Dealers tend to over charger you for every additional accessory that you want, and this extra charges will be spread out within the duration of the terms of payment you have with the bank.