If you are trying to figure out if you can or want to purchase a brand new car or if you would rather go with a used one, then there are some questions that you should ask yourself. The answers you give can make it clearer to you on which way you should go. Here are three important questions to answer:
1: Are you prepared to put a large down payment?
When you purchase a brand new car, you will generally have to put a larger percentage down upfront. Also, along with putting down a larger percentage, keep in mind the cost of a brand new car will be significantly higher since the car has never technically been "driven off the lot." This means when you buy a brand new car, you will need to put down quite a bit of money. However, used cars cost much less and come with that smaller percentage as a down payment, which makes them much more affordable right out of the gate.
2: Are you ready for higher monthly payments?
It's important that you go over your monthly income and expenses before you go to the dealership for a brand new car. Even with paying a higher percentage as a down, you will still be looking at higher monthly payments. These payments aren't going to end until you have the car totally paid off and you need to make them each and every month. Therefore, if you know there is a possibility that some months you may bring in less money or have more expenses, then you run the risk of falling behind in your car payments. As a result, you will be without a car. When you buy a used car, the payments are going to be much easier for you to take on and keep up with.
3: Are you able to pamper a car?
When you buy a new used car, you will want to treat it well. However, when most people buy a brand new car, they can become a bit obsessive about not getting one scratch on it. As such, you need to ask yourself if you want to make sure you park your car inside the garage each night, if you will feel it is safe in the parking lot at work, and if you even feel it's worth the added concern. Many people prefer newer model used cars because they can still look new, but they don't find themselves worrying so much about them.
For more information about used cars, such as used Hyundai cars, contact a dealership.
