Here's the sad part: the minute you drive your car off the lot, it's no longer new. Instant loss of market value right there. By the time your car's three years old, 45 percent or more of the value has already been lost! Take also into consideration your car model's popularity, quality, design and see how it would fare by the next time a new model's out. Your car would definitely pale in comparison to the next season's hottest model.

 

2. Skyrocketing cost.

 

Drive yourself crazy with down payment, registration, monthly payments and licensing fees! A new car costs much more than a three-year-old used car, whereas a used car buyer could afford luxury model for the same price as a new sedan.  Even if your used car needs more frequent repairs, if you're saving a couple hundred dollars a month, you're usually still ahead of the game.

 

3. Higher insurance costs.

 

The value of a new car is relatively high, hence the escalating fees for comprehensive and theft insurance. On an older used car, if it's all paid off, you don't even have to pay for collision and comprehensive insurance if you don't want to.

 

4. Harder to service.

 

Certain maintenance items are, you guess it, expensive. Remember also that a new car calls for extra caution, for the slightest damage to your car could send you into panic mode right away. Case in point: a little scratch on your new car would definitely hurt more than a large dent on a used one.

 

5. Face it: some old cars are just as reliable.

 

Gone are rust and exhaust-problems and other engine glitches which are usually associated with a second-hand vehicle. Used cars are usually well-maintained now; no wonder most people would go for them anytime.

 

But then again, no disadvantage would stop a serious buyer from going for new cars. As long as you can afford it, why not? But if your priority is to save money and just get reliable transportation, then a used car is for you.

 

Just remember this tiny detail before sealing the deal, whether it's for that new sports car or the trusty used pick-up: always make sure you get your money's worth.

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