Running a car is an expensive exercise, of that there’s no doubt, what with fuel, tax and insurance, not to mention maintenance. On top of that, you have the initial investment to buy the car, and with that in mind, here is a way that you can enjoy top quality driving at a very low cost.
Buy a 2-year Old Car
Why 2 years? I hear you say, well, a 2-year old car is still in very good condition, and it will have depreciated at least by 30% of the initial cost, which means to get a very good deal. If you take good care of the car and drive for it for one year, you can then resell it for almost the same price that you paid. At a stretch, you could go to 4 years old, but definitely nothing over that, which ensures the car is still in good shape.
Buy from a Dealer
Let’s say you have your sights on a Mitsubishi that is a couple of years old, there are Canberra car dealers that have a stunning range of nearly new cars, and they will also give you a warranty on the purchase, as well as taking your current car as part payment. In the event you bought a 3-year old car and resold it to the dealer 12 months later, you wouldn’t lose very much at all. And by changing your car every couple of years, you get to experience a range of different models, rather than keeping the same car for 5 years.
Maintain the Vehicle
It is imperative that you have the car serviced according to the owner’s manual, and just before you sell it, have the dealership give it a once over, which should ensure you get a top price for the car.
Reselling the Vehicle
There’s no reason why you can’t sell it back to the dealer you bought it from, and as they already know the car, they would be happy to offer you the market value. The important thing is that you have had a couple of years of motoring, and it hasn’t cost you a great deal, and if you continue to do this, you will always have a nice car that you can change every couple of years, or sooner if you prefer.
Cars depreciate in stages: the first drop in value comes when you drive the new car out of the showroom, which can be anything from 15-20% of the value, and after 2 years, the car is still in tip-top condition, and will depreciate slowly for the next 2-3 years, which is when you own it, before selling it on for a good price.
It is important to ensure that the car is always serviced properly and at the required mileage intervals, and providing you haven’t had any knocks or dinks, you will get a very good price when you come to sell.