One recurring, slightly-heated discussion in my home revolves around cars. Am I a car person? Definitely not. But my better half is obsessed with them. It's healthy that we're getting our opinions out now as we're attempting to be more financially compatible, and it really does feel like most conversations end on a progressive note.
I truly think used cars are in my blood, because it's really difficult for me to see why a new car is better than a gently used one. The Motley Fool and I may just be related, as it recently published five solid reasons why a used car is a good idea; in my opinion, number two provides the strongest argument against new cars.
- Cars are more reliable than ever. Pick up a copy of Consumer Reports annual auto issue to study reviews of the best used cars.
- Avoid the worst of the depreciation hit. A car's value goes down the most during the first two or three years of ownership. Purchasing a car that's only a couple years old will last you for many years and miles and you'll save a ton.
Check out three more reasons to buy a used car when you
- More car for less money. The Fool says: Buying used lets you take advantage of someone else's depreciation hit. You can buy a fancier used model for the same price as a new, cheaper car.
- The Internet helps you find what you want. Peruse the used listings on sites like AutoTrader.com and Cars.com before visiting dealerships.
- Dealer "certification" programs. Used cars that are certified are inspected by the manufacturer and sold with a warranty. These cars will come with a higher price, but you'll avoid the costs of having to deal with any possible problems hidden by a private seller.