How To Compare The Cost Of Owning A Used Car Vs. A New Car

Buying a car is one of the biggest purchases that most people will ever make. It can be hard to decide whether you should buy used cars in sacramento or a new vehicle. You want to find the best option for your needs, but you also want to get it at the best price.

Here are tips to help you with this decision.

Define Your Budget

You should always shop around before making a purchase, but it’s important to get a price quote before you go shopping. Get a price quote from several different dealers. Also, get quotes from local used car dealers, as well as online and even national dealers.

Get Financing Information

Check with your bank to see what kind of financing options might be available on both new and used vehicles. The interest rate can be very different on a new and a used car, so you could end up paying much more for financing a new car.

Calculate the Cost After Purchase

You might get the best price on a specific model, but you need to do the math to see if it’s still within your budget after adding in all of the other costs associated with buying it.

Shop Around

You don’t have to use the dealer you chose in step one, but you should shop around a little before you buy. You get the best price from multiple dealers and from different sources. It can be worth your time to travel an hour or so just to visit multiple dealers. You might find a few that offer better pricing or better trade-in value for your current vehicle, so it may be worth it for you to make the trip.

Consider Used Vehicle Maintenance Costs

You should assume that the maintenance costs for a used vehicle will be much higher than those for a new vehicle. While you might not think about it when buying a new car, it’s important to know that you’ll end up paying more money in the long run.

Check Your Credit Before You Buy

You don’t need to submit your credit score to every dealer, but it’s still important to check your credit to see if you are eligible for certain programs or financing options.

Consider the Resale Value

Take a look at Kelley Blue Book to see what the resale value is for the car you’re interested in. You can also check online reviews and forums to see what other people think of the vehicle and its resale value.

Get Your Car Inspected Before You Buy

You should always get your vehicle inspected before buying it, and this is especially important when purchasing a used car.