There are always arguments about the best way to buy a car, but here's something that few people realize. A car's depreciation is greatest in the first three years. That's why experts at websites such as The Simple Dollar suggest that buying used is a better deal than buying new or leasing new.
When you lease a new car, you have it for the first three years, pay a big down payment, and pay large monthly payments. You don't own the car, meaning that when your lease is up, the car belongs to the dealership. Buying used, on the other hand, means a smaller down payment. It generally means better monthly payments. All of the money you pay is going toward ownership. That's definitely a better deal than leasing, especially if you have bad credit Chico CA.
When you buy a new car, you will also make a high down payment and high monthly payments. For the first three years, the return on your investment will plummet. The average car loses more than half its value in three years. If you buy a used car that's three years or older, depreciation has started to level off. This means that if you buy used, you will have a car that holds more of its value longer. Get a loan.
Financing Used Cars
Before you lease or buy a new car, talk to the financing experts at R&R Sales. We can show you how buying used can save you money at purchase and over the life of the car. Our team can also help you overcome bad credit Chico CA.Get pre-approved for financing.