Is it better to buy a one year old car?
A new car generally takes a 20% hit in depreciation the minute it leaves the lot. This means that even a one-year-old used car will be 20-30% cheaper. With a used car, you’ll also pay lower insurance costs. Certified pre-owned cars can be a good middle ground between buying brand new and any old used vehicle.
Can you negotiate on a special order car?
Yes! You should absolutely negotiate the price of your special order car. Make sure to negotiate before the order is placed, and negotiate as if the car were on the lot.
Can you buy a 2 year old car?
You can’t afford a 2-year-old model with average miles, but the dealer has the car of your dreams, and it’s thousands less. There’s one problem: This 2-year-old model has over 100,000 miles.
Which is better a high mileage car or an old car?
“These late model cars just run, run, run, as long as you change the oil and maintain them” according to the owner’s manual. So, in the case of Scenario 2, that high-mileage car could be a good buy. A much older car, such as the 8-year-old model in Scenario 1, has components that rust over a longer period of time.
Do you have to be happy with car dealership price?
Don’t be bitter, or feel disenfranchised, or get upset that the dealership is going to make money off your purchase, and that the salesman is going to benefit from your sale. Be happy, because it’s quite possible that you can get a good deal, and at the same time the dealership can make money, and the salesman can make a living.
When to shun the dealer for car service?
Each year millions of motorists – particularly those whose cars are more than three years old and out of warranty – shun their local main dealers, assuming they will pay a lot less by getting the work done elsewhere.
A smart car shopper will try to combat crippling depreciation by buying a low-mileage car that’s only a few years old. If you buy the car after its initial depreciation, you’re not going to take the big hit. However, sometimes you might not want to buy a three or four-year-old car. If this is the case, consider purchasing a one-year-old vehicle.
Why are there so many used cars with less than 5, 000 miles on them?
Henry’s question is interesting, because it’s something that a lot of people have asked me about over the years. You go on Autotrader and you browse the listings, and there are tons of 1- or 2-year-old cars with only 3,000, 5,000 or 8,000 miles on them.
“These late model cars just run, run, run, as long as you change the oil and maintain them” according to the owner’s manual. So, in the case of Scenario 2, that high-mileage car could be a good buy. A much older car, such as the 8-year-old model in Scenario 1, has components that rust over a longer period of time.
What’s the average depreciation on a one year old car?
USA Today reported Edmunds.com data that noted the average depreciation for a car in its first year is about 22 percent. Let’s use that $30,000 example again. After a full year of ownership, that car that you purchased just twelve short months ago is now only worth $23,400.