Used Car Vs New Car for New Drivers and First Time Car Buyers

Used Car Vs New Car for New Drivers and First Time Car Buyers


Hey I’m back and today I feel like
talking about used cars versus new cars for first time car buyers, especially
young people. People in the range of, let’s say 16 to 20s and also people who
are low wage earners and middle income earners. In my opinion I feel that people
who are in this group these groups shouldn’t be buying new cars. But it
depends on the circumstances. In general I believe that a person who only needs
to drive short distances may be 10 to 15 miles daily could probably get by on a
very good used car. But a person who has to commute 50 miles or more a day to get
to work or you know to appointments or whatever, it would probably be advisable
for that person to go the route of buying a brand new car. But as a whole, I
think people who aren’t swimming in money should lean more towards buying a good used car. You can find a good used car with low mileage for under $10,000.
When I was younger I got my license when I was like 18 years old and I didn’t buy
my first car until i was about 19 or 20 and prior to that i relied mainly on
walking wherever i needed to go there was just only a few miles I relied on
walking or taking public transportation. True, it was a pain in the ass to have
to wait on bus 30 minutes only to sometimes miss that bus , or to have
the bus to arrive late and then you end up late to wherever it is that you’re trying to go. My first car was about five years old. My father gave
me $1,500 to put down on that car and then I added… I had saved up another
$1,000. So in total I put down $2,500 on a $3,500 car and then I financed the
rest over about a few months period. I drove that car for about two years if it
weren’t for the fact that I screwed the car engine up I believe that to this day
I would have still been driving that car because it was a great car. It was a
Honda and Honda’s are very reliable and very good on gas. From what I’ve heard
those cars you know once you get to three hundred thousand miles on the
engine you’re just breaking that engine in. Another reason why I really feel like
a young person should not buy a brand-new car is because chances are
likely a new driver is going to basically end up getting into a fender
bender which was the case when I got my first car. I had two accidents within a
one-year period. The first one I was at fault but the second one was not my
fault . My philosophy is why spend thousands of dollars on your first car
only to have that car wrecked and dogged out and abused from neglect. And let’s be
honest most young people probably aren’t that well versed in maintaining and
caring for a car. Nine times out of ten that new driver is
gonna end up driving the car into the ground from lack of care and neglect in
my situation I ended up blowing the head gasket in the engine of my Honda. And if
it weren’t for that like I said I would have still been driving that car because
I see those cars still on the road. It was 19 and I still see those cards on
the road from time to time. So I know that they’re good and reliable cars.
It had a little bit over a hundred thousand miles on it when I got it which is very
high but the engine ran very smoothly and it was quiet. It hummed. Another thing that should be considered is as a person that’s just starting out in life you
don’t want to saddle yourself with a huge load of debt. I was looking at car
prices online a few days ago and even nice brand new economy cars go for
over $20,000 and that’s a lot of money. That’s just for a base model vehicle… a
base model Honda or a Toyota. I’m quite sure you can find a brand new car for
cheaper than that but still it’s still a lot of debt. Even say in the $15,000
range, that’s a lot of debt to incur as a person who may be a low wage earner or a young, young person starting out in life once you take on that responsibility of
financing a car you’re bound by that contractual agreement. If you start
missing payments the finance company can come in and repo that car from you. And it goes on your credit report and with any financed car
the buyer must keep that car insured. Most of the time that’s that’s a
stipulation that is included in the sales contract for a vehicle that the
buyer will keep that vehicle insured. Believe it or not even if you’re on time
with your car payments the finance company can still may still have the
right to repossess the vehicle if the buyer lets the automobile insurance
lapse. And it makes sense because the finance company wants to make sure their investment is protected in the event that the car is either
stolen or the driver gets into an accident and the car is totaled. I think
those are some things that you might want to keep in mind if you’re younger
person you don’t have a whole lot of money to spare and you’re thinking about
buying a new car. Yeah you know everybody wants to have something nice and new and comfortable to drive but you have to really take a little hard look at your
own financial situation and sometimes it’s just not financially feasible to
buy a brand-new car. I say as long as you can get from point A to point B that’s
the most important thing. You don’t need to have a new car in order to get to
where you’re going. I would just recommend and if anyone who is planning on purchasing on car take your time and shop around as with anything. There’s a
saying in the retail industry “caveat emptor” that’s Latin for “let the
buyer beware”. Always always always make sure that you
when you’re doing your car shopping, especially for a used vehicle, make sure
that you bring somebody along with you who is if not a mechanic at least
someone who knows a great deal about cars just to protect yourself again
against um purchasing a lemon. Because depending on the circumstances when you buy a used car you may just be buying a car that is
as is and that means that if the car has any mechanical problems once you buy
that car and you sign on the dotted line you might only have a certain amount of
time depending on the laws in your state to get a refund on that car if you find
out that there’s something wrong with that car. You know when you buy a car as is you’re
buying it you’re buying it and taking on the risk that that car might have
mechanical problems that could run into the hundreds or thousands of dollars
to get repaired. So always bring a mechanic or someone who knows a lot
about cars and the most important thing is to just make sure that you’re buying
a car that has a good engine because engines are very expensive to repair. A
good engine a good transmission and make sure that the radiator is good as well.
You know all the other stuff such as brakes and muffler. Those are minor, you
know minor things that can be repaired for probably under a couple of hundred
dollars. A problem like the transmission and engine your’e talking about
thousands of dollars hundreds to thousands of dollars in the cost of the
parts alone. This video is gone on long enough. You know I’m thinking I might make another video on this topic. So that’ll
be it for that for now, for now. Thank you.

About the Author: Michael Flood

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