Author : Shawn Wilson
There is a lot of talk these days about the auto sector and specifically the American auto companies that are in the midst of requesting and receiving bailout money from both the American and Canadian governments So with all that is going on if you need to buy a car or truck what makes more sense, buying used or new?
There really is a lot to think about and not that buying a vehicle has ever been an uncomplicated process but today it’s even more so Even in this market there are people that need to buy vehicles, myself for example I have a lease that is coming up in another month The big question is do I buy new, used or does my family go from being a two car unit down to one?
Most of the domestic car companies have been known over the years for offering amazing lease and finance rates now offer little to no incentives Given their current issues with cash I am not surprised, that being said this in and of itself is not helping them move any of their current stock What the domestics are offering are incredible discounts/reductions off of the MSRP This combined with traditional bank financing has made it somewhat affordable for those looking to buy new I say somewhat because I really enjoyed leasing and am going to miss the low payments that leasing afforded me
So in the end buying new right now isn’t necessarily the best option but what about buying used Because most folks are concerned about the market place the used car business has enjoyed a rebound in activity, combine this with the lack of new vehicle financing and the used car market despite the recession is doing rather well So from a buyers perspective used vehicles are more expensive than they were a year ago but that doesn’t mean there aren’t deals to be had
Of course buying used requires having access to cash or to some form of bank financing Sadly the banks aren’t doing a very good job these days of approving loans and if you have even a small blemish on your credit bureau you may not get approved Things certainly have changed over the years, it wasn’t that long ago that anyone with a pulse was getting approved for car loans and mortgages and at amazingly low rates
At the end of the day if you need a new vehicle and in the end will require some type of financing I think you have to look very hard at the monthly payment and compare that to the value you are receiving Low payment with an older car or higher payment with a new car These are all things to consider before making the decision to buy new or used As I already mentioned it’s not an easy decision and in the end you need to do your research in order to make an educated decision Whatever you decide get all the facts and have a good idea of what you want before you let the sales person start their spiel!
This article was written by Shawn Wilson, a member of the customer support team at Datepad, where we always offer free internet dating. Datepad has a massive directory of informative free dating articles along with a great list of dating site reviews on our dating blog.
Syndication Source: Article Mind