Thinking about a new car? Think again, brothers and sisters. If I’ve said it once, I’ve said it a thousand times: they don’t pay in the long run. Yes, it smells like a million bucks. Yes, it’s clean and shiny and makes you think of being in some clever Mac-like TV commercial. But don’t let the hype sell you before you’ve even walked in the door. Remember, no matter how gorgeous the car — it’s not worth the money. You like to save money, don’t you?
Would you pay $100 for the privilege of watching a movie on it opening weekend? Then why would you pay forty grand for the “honor” of driving a car that is now worth ten or twenty grand now? You’ve been sold a bill of goods well in advance when it comes to new cars. Advertising, especially TV commercials work. Otherwise, your first inclination would have been to look for what used cars for sale you could find. Instead, you made a beeline for the nearest new car dealership or website.
We’re wired into marketing strategies. I know it’s hard to resist the images of cool kids in cool cars, driving fast and having a blast — all in time to the latest cool-kid soundtrack. But, instead of looking for the latest model you saw racing around on the boob tube, you’d be better off looking for some solid used cars instead. Of course, whenever a used car is mentioned, it brings to mind images of clunkers and lemons. This is all wrong! I’m talking about last year’s model, not necessarily what was hot ten years ago.
Here’s a shocking statistic: a new car loses 15% of its value the minute you drive it off the lot. Then, each subsequent year it loses another 15% in value. So much for your investment. The problem is most drivers are convinced that a used car is more prone to breakdowns and major repairs. But, that’s neither here nor there. In some cases that may be true; it all depends on the condition of the car when you bought it and how well the dealership maintained or repaired the vehicle.
Enough hair-splitting: if you want a decent car for cheap, you have to do your research. You have to ask questions and not be afraid of moving on to the next dealership. This means having to hold your own when Slick Rick tries to dodge your direct questions, or if he tries to up-sell you to a more expensive car. The conventional wisdom is that if a customer is looking for a used car, chances are he can be swayed to buy a new one given the right incentives. Don’t be a sucker — there are enough of them in the world as it is.
Don’t cater to that new car desire. Keep your eyes peeled for great used cars for sale and save big in the long term.
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