Cars are expensive in this market. The pandemic has caused supply chain shortages which has reduced the supply of cars. On the other hand, demand for cars has gone up thanks to people needing something to do during the pandemic. This has been the perfect storm for highly inflated vehicle prices. In this video, you will learn why this inflated market is still not a good reason to buy a new car.
Regardless of if you buy a new or used vehicle, there will always be reasons to bring your car into the car repair shop. Cars breaking down is just a part of life. Used cars may be getting older, but new cars remain largely untested and subject to recalls and unforeseen issues.
On the other hand, used cars provide a huge cost advantage to new cars. New cars depreciate significantly even after owning them for a short period of time. It doesn’t matter much how many miles you have driven. On the other hand, used cars have already gone through their period of significant depreciation. Instead, they depreciate slowly year after year. This makes them a much better purchase besides the fact that they are also normally much cheaper.