Even though everyone loves the smell of a new car as well as the pride that comes with owning a new car, it could be worth your while to buy a car a year or two old, as Van Rental Chicago Services noticed. Buying a new car is one thing I was warned against in the past by my grandmother. She believed I might possibly be better off finding a car a couple of years old with low mileage. Her reasons behind this was basically that any issues that the car may have had will be taken care of and I would be sure that I was getting a car in good working condition.

Those principles are something I still abide by today as they are reasonable and in buying an older car there are other considerations that add weight to this argument. I will now expand further on just why buying a car that is not extremely old can result in saving you a bunch of money.

I’m not really sure if you realize it or not but once you buy a new car and drive it off the car lot the value of the car just drops by thousands of dollars. Maybe you imagine you have bought a car that is good value for money if you paid $25,000 for instance but in reality you haven’t. The amount could possibly be as low as $20,000 when you first wave goodbye to the car dealer. In fact for the period of that first journey you could have taken a hit of $5,000 and this occurred in just a few minutes of time.

Splash out on a new vehicle, if you feel I am really being too alarmist here. As soon as you have, aside from going home, don’t drive anywhere else. Head off to the showroom the day after and find out what value they put on your car then. No doubt for that $25,000 car you bought yesterday they will offer only you $15,000 to $20,000 for the trade in value.

This is still the market norm for many years. These days some dealerships are offering you a 100% trade in value for 30 days after you buy the car. Essentially, after 30 days, you still have to accept that you are looking at a loss of $5,000. This shortfall could be greater if just selling the car is something you are considering.

That instantaneous reduction in value is something you will not have to cope with if you decide to buy a car that is say 2 years old. Not forgetting like my grandmother said, any bugs the car may have, will have been resolved by then. So if you look at it that way, by purchasing a pre owned car with low usage you will actually be getting more for your money than if you bought a new car at the dealership.

It is just something to keep in mind the next time you are considering getting a new car. If you do not care about losing out on that new car smell you can end up getting a much better deal.