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Saturday, September 19, 2009

Buying Used Cars A Win-Win Situation

By Charles Spencer

Families all over the world are reevaluating their spending priorities and with financial hardships being a reality for most of us we need to think of how are investments today will save us money in the present and future. A car is a necessity for all of us but buying a brand new car when there are numerous well maintained used cars on sale seems a bit spendthrift these days. Whether your prefer a Honda or a Suzuki, you're bound to find a car that fits your budget and needs.

There are literally hundreds of used cars of different makes and models available for sale to match every reasonable budget. The idea is to buy a car that allows you to sleep comfortably at night and not worry about what unexpected repair and spare part costs you are going to have o deal with next. Scrutinize the car for flaws or get a reliable mechanic to do it for you. Its always wise to take the car for a drive on different kinds of roads to check its performance under different situations.

The other advantage of buying used cars is the minimal drop in resale value when you sell your used car after a few years. New cars lose a large chunk of their market value within the first couple of years of use and the drop in price, in percentage terms, is far greater than that of a used car. This allows you to loose less cash in the future and is a prudent investment for households with a limited car allowance.

A regularly incurred expense related to cars is the insurance premium you pay. This can prove to be a burden if the car you bought has a high value and is relatively new. Older cars have lower premiums and very often you can further reduce payments if you have two cars insured by the same agent or company. This should be fairly easy if you have a good relationship with your agent.

Newspapers and popular online classifieds cater to the sale of used cars and have fresh deals day after day. The variety of used cars and the ease with which they can be found have increased and with websites offering advanced search options, you can find a particular car for your price range within minutes.

It is clearly evident that the benefits of buying a used car are significant and too valuable to ignore. A few thousand dollars saved can go a long way during a bad patch in ones life. And with the wide variety of makes and features available out there, you really don't have to sacrifice all that much. You get to drive a great car and worry less about making ends meet. Its a win-win situation. - 21396

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