Monthly Archives: June 2015

Buying New vs Buying Used

Do you, like many individuals, feel that buying a brand new car is a right of passage, or a reflection of status? Do you feel satisfied with the ability to select the exact model, color and features when purchasing new? Well, if you’ll lend us your ear, we’re hoping to sway your opinions… Buying a new vehicle is a poor investment. Why? One word: depreciation. Your vehicle will lose approximately 22% of it’s value in its first year, and after 5 years, that deprecation sky rockets to about 55%. Ownership Until your financing is settled, you don’t actually own your vehicle. If for any reason you begin to struggle financially and can’t make your payments – guess what? The bank will come in, take your car, and then resell it, leaving you with nothing but a bad credit score. This is of course also the case if you finance a used car, but the lesser the loan, the more quickly you can pay off the debt. Warranty and Repair Costs Even with a factory warranty, you stil ... read more

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