The purchase of a brand new car is without a doubt, one of the biggest and a milestone purchase in any person’s life. There are multiple aspects to be taken into account while purchasing a new car, especially if you are opting for financing your car instead of buying it in fully paid, which is a very impractical option for the majority of population. Buying a new car can definitely cause a major setback to anyone who’s not financially prepared or does not have enough savings and even if that’s not the case it can put an individual or families on a tight budget for some time in the future, post purchase. This is why the trend of buying used cars is growing so much. When we talk about used cars in reno Or anywhere around the world, an image instantly pops up in our mind which is of a dusted broken down 4 wheeler. However, this article sheds light on the reality.
Why should you purchase a used car?
If you belong to the generation which is known as boomers or maybe even the early part of millennial, then you would consider a car as a status symbol and certainly buying a used one would be against the self respect of many. However, if you belong to the later half of millennial Or the generation which is known as gen-z then you would view a motor purchase as an investment into an asset. This is why buying a pre owned car is considered to be one of the most wiseful financial decision you can make. It is a well known fact that as soon as a car leaves the showroom, it’s value starts depreciating. If a person does thorough research and calculation, then they can find a pre owned car whose engine hasn’t undergone much but due to depreciation over time, it’s value has reduced significantly.
Finding a pre owned car may require some extra work as compared to simply walking into a showroom and buying a new one. Owners may also have to make certain compromises on the design and color, but in the end all pre owned car owners justify it to be worth it.
