Did you finally get your driver’s license? You still feel euphoric over having passed that driving test that you took a week ago. Because of your driver’s license you finally have the right to buy a car. Now you will be able to do what you have been planning to do when you get your car. You imagine yourself getting around town in the convenience of your car. You even imagine going on an out of town trip with it. You are excited to get your first car.
Since this is your first purchase of a car you think about just getting a used car. You see it as a logical purchase for you since a used car will be running of course. You also do not want to spend a lot of money for your first car. That is the reason why you have finally decided to just get a used car. You may even have gone to car dealers that have used cars in their shops. But before you make your purchase consider what follows first.
You need to consider that a used car won’t have much resale value. This means that when you realize that you want a new car you won’t be selling your used car for much value. Thus you are guaranteed not to get back the money that you bought for it. When you sell it even after only one year of using it, it will be sold for a low amount only.
The next thing that you need to consider are the hidden costs that come with purchasing a used car. The hidden costs will be from the dealer where you are buying the car from. This is especially true when you are using financing to purchase it. The more hidden costs you have when you don’t pay for it in full amount.
The third point that you need to keep in mind is that a used car is expensive to use. The main reason for this is its having low fuel efficiency already. You don’t know the previous driver of the car so you don’t know if they are careful with driving it. But you can be sure of its low fuel efficiency. You also cannot expect that it will smoothly function. Maybe the car has ran for many miles over the years already. These two conditions will result to you having to make more trips to the gas station.