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Buy new or used?  That’s probably the first question that crosses a potential car buyer’s mind.  When money’s tight and the economy forces everyone to rethink both major and minor decisions, putting money on a significant purchase such as a car should be considered carefully.  If you still cannot decide

You avoid paying for the depreciation
Depreciation is a major issue when buying new cars.  A brand new vehicle will lose a significant percentage of its market value the moment you drive it off the retailer’s lot.  From there, it will continue to lose value for about three years.  For most first-time owners of new cars, the drop in value can be surprising in an unpleasant way.  Try selling a one-year-old car and you’ll see what a huge chunk of value gets shaved off.

If you wish to avoid paying for depreciation, a used car is far better than a new car in this department.  You leave it to the original owner to shoulder depreciation and you get to enjoy the use of the vehicle thereafter.

You can buy excellent cars cheaper than $10,000
Ten thousand dollars will probably buy you a brand new car — a nice, small, compact car that even your kid brother or young son could drive with little effort.  Great if you’re looking for a car this small and if you don’t mind the most basic (read: incomplete) features.  

If you choose to buy used, however, there’s no need to spend thousands of dollars on a purchase.  If budget is a big consideration, then a used car will be a better choice than a new car.  As long as you choose wisely, a new car can give you so much more in terms of savings over its usable years.

You have a choice in terms of brand, make and model
Hundreds of thousands of cars enter the used car market each year.  That should give you a few hundred choices that will fit your needs and whatever specifications you might require.  The number of cars made available through dealerships, auctions and private sellers also give you a wide range of choices in terms of mileage.  It’s even possible you’ll find a low-mileage car at a very affordable price.

You can find a used car that has great investment value AND excellent working features
Cars are not exactly investments unless you count their contribution to a business.  In most cases, the purchase of a car if often chalked up as expense.  There are also expenses that are often associated with brand new cars that may not be an issue with used cars.  Used cars, for example, do not require the high insurance premium that you’ll have to pay for if you choose a new car.  That’s a significant amount of savings in terms of dollars every year.

You get the car of your dreams at huge savings
Another reason why a used car is better than a new car is that it gives you access to some high-end cars without requiring you to spend a lot.  If brand names such as Mercedes, Audi and Chevrolet seem the epitome of hard-to-afford cars, you can still own one (or a few) of these cars without having a fat bank account.

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Source by Mikhaela