Purchasing an automobile is a big decision for most people. Choosing between buying a new car, leasing a car, or buying a used car is a decision that most people have to live with for several years. For many people, buying used trucks and cars is the best decision. Used vehicles often offer affordable prices, unlike new cars, and do not limit the number of miles you drive in a period of time like a lease.
The biggest downfall most people have with purchasing a new car is that the value of the vehicle begins dropping the second you drive it off the lot. Unless you plan to keep your new truck or car for several years and avoid putting excessive amounts of miles on it, it is often difficult to get a good price when you decide to sell. According to the tracking company Autodata, Americans purchased 16.5 million new automobiles in the year 2014. To get the best value out of these new car purchases many owners either trade their car in after a low milage benchmark like 40,000 or drive it until they have it paid off and can afford another new car loan.
Other people who want to always be driving a new car decide to lease instead of buy. Although this is a popular option some would argue that it is not the best economic one. Many car leases require anywhere from $0 to several thousand dollars up front, though the down payment is negotiable. In addition, lease contracts limit the number of miles you can drive. These mileage restrictions typically are 9,000, 12,000 or 15,000 miles a year. Going over the allowed milage often leads to expensive penalties. In some cases, even if you stay under the milage limitations the buyout price is more than the car is worth.
While many people select new car purchases or leases, a growing number of people find their best driving value on a used car lot. Used car dealers, backed by manufacturers, offer “certified” used-car programs for newer used cars. In most cases this includes a used car that is up to three years old. As used trucks and cars are made to last for more years and for miles, used car lots have more and more options to offer used car buyers. In fact, The average car on the road is now just over 11 years old.
Many smart investors consider used trucks and used cars the best value for their money. Used vehicles offer affordable prices as well as unlimited milage opportunities.
