We might look for a used car if we have not enough budget, this is the saving or monthly income limitation or a reality that with no choice.
The banks always only provide loan with the monthly repayment amount equals to one third of our monthly income and not more than that since the bank won’t want to take risk of default of the borrower.
Other than the financial side, from the technical side, how old age car is a good buy? According to some expert’s opinion, more than 5 years, the car value just depreciated about 1/3 to ½, is a good buy in terms of second hand value.
Do not ask which brand is the most durable? As what I found, not all well-known brand is necessary the best brand in the world. I have came across some news that many well know car manufacturers found cheated in its test.
Moreover, there are numbers of car manufacturers recalled their vehicles due to some parts defect. Thus, it seems the cars manufactured nowadays are not as durable compared to those grandfather era.
Thus, the strategy is buy the middle priced range car as this is also within middle income earner’s budget. If you able to buy a big car which is within your budget and affordable, you should able to manage the risk of recall or defects, I believe.
And, one of the advice from a car technician is never buy those cars which is the middle price range of the car manufacturers itself, take for example, for Toyota, the manufacturer, it has the Sedan product line from Toyota Vios ( the cheapest), Toyota Altis (middle range), and Toyota Camry (High end) for the purchaser to choose from.
According to the technician, never buy the middle range one due to the specification might not be much better than the cheapest model but won’t be able to compete with the high end model for sure. It means, the extra money we paid might not worth for it.
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I think using used RV makes sense for rent. I don't think I'd buy anything long term. I didn't find much use for the same.
Used cars may fall within the budget but will it be for a long term use? It is impontant to note that though it may be within our budget today, can it be use for a while before requiring servicing. If care is not taken, you can get the car but servicing will end up costing you more which whe putting together could have help you in getting a new car.
As a former car dealer rep, I can tell you not to buy without being informed. Take advantage of all information available in the internet about the car you are interested in and don't let the rep talk you into a car you don't want. Also, new cars can be brought at a reasonable low down price especially during the fall months. When you have a lot of new cars on the lot, the dealership is losing money so they have to, practically, settle on low prices in order to get rid of them. Bottom line, whether new or not, do your homework and be informed.
Yes! I agree, you can get a reasonably priced car during Fall or toward the end of the year.
When it comes to car shopping like Caleb mentioned for new cars, if you shop during the Fall months or toward the end of the year, that would ideal because typically when the transition of new cars come for the new year -they need to get rid of the current years car.
For example right now it is 2017... in the fall season, the 2018 cars will come. So you will have a better chance of getting a good deal for 2017!
Just like with my car, I purchased it in December 2015, for a 2016. I got a deal rather because it was the last day of the month and last day of the years quota.
As far as buying a used car - we have done a lot of that in the past and its important to do research. Ask them how long they've owned the car, why they are selling the car, ask for any receipts or documents to see if they regularly maintained the car, and so forth. I don't know about not buying the middle line of the car as a problem because sometimes, its the preference of the car one may like.