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New Car vs Used Car Advantages of Buying a Used Car for Cheap

New Car vs Used Car

There are lot of questions involved in the process of buying a car, should you buy new or used? Unlike investing in a newer home which increase in value over time, new cars indeed depreciate about 25% when you drive off the lot. Most cars will lose about 30-40% in value during the first year. It is easier to find 3 to 4 years older used car, drive it and sell it with little loss in equity.

Buying used cars will be smarter option for buyers with credit problems or with the limited budget as it can be a lot more savings on taxes and insurances. As a vehicle depreciate not only it becomes inexpensive you will also save on taxes. For a new car worth $21000 will be taxed $2730 (HST 13%), the same car 3 years older cost is $15000 will be taxed $1950 savings of $780. Car insurance is primarily based on vehicle value, your driving record, type of coverage. When you buy used vehicle for much less cost comparing to newer car, you may pay cheaper premium on car insurances. finance managers offer professional services, guaranteed used car loans, great warranty and offers best interest rates when it comes to buying used car. Car loan masters have partnered with major banks, private lenders and offer in-house financing for their customers. At car loan masters the Finance Mangers will thoughtfully determine your payment options and make sure that the vehicle you purchase will fit within your budget. Car loan masters offer financing suitable to individual’s credit history making it easier to own a car today.

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