Are you going to buy a car? Find some useful information below.It’s best to stick with ‘tried-and-true’ car brands which enjoy decent reputations.
Next year’s new car versus last year’s:
Our old friend ‘conventional wisdom’ teaches us that buying a new car at the end of the model year (at some time in late summer or early fall) can yield hundreds if not thousands of dollars in savings on the list price- but there is a penalty to be paid in additional depreciation.
As soon as the next year’s models come out, the previous year’s cars suddenly take a proportionately larger drop in value. In the eyes of the marketplace, a car suddenly goes from being ‘new’ to a year-old when its successor arrives, regardless of the actual date of manufacture or the date at which you began driving it.
This doesn’t mean that one should avoid buying end-of-season cars. It just means that the savings on the list price should be pretty hefty, and you should keep the car for at least three years to avoid feeling the financial pinch from
Here are some options which make a car easier to resell, thereby bending the depreciation rules in your favour: an automatic transmission on a family or commercial vehicle; air con; a mid-price sound system; and power steering.
Extras which have no effect on resale value include: larger or fancier wheels and tires; power locks and windows; deluxe trim; vinyl roof; digital dashboard, and other ‘frilly’ things. The proportionately higher cost one pays for a top-of-the-line version of a vehicle is also rarely recouped at resale time, unless this model is particularly impressive in style or performance.
While absolutely basic, no-frills models may seem like they would be difficult to resell their depreciation is inevitably less than for a more fully-equipped model. Search Used Peugeot Cars Dublin.ie to find a car you like.
Discussion
No comments yet.