Tag Archives: depreciation

Myths to Avoid When Buying a Used Car – Part II

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Posted in Uncategorized

Used Car

It’s a major decision when choosing which used car to buy. Research needs to be well done and test drives are a must. Many people rely on car guide prices and magazine reviews. While they are helpful, relying on them completely can be misleading. Most of all, making yourself aware of common used car buying myths can save you money and frustration. Following are some common used car myths:

1) Fuel efficiency is the most important factor in deciding the right car – While fuel consumption is a major factor,  it isn’t the most important. Things like depreciation value of the car, diesel or gasoline engine, and condition of the engine, among others, are equally as important if not more at times. Even if you get a used car with a fuel efficient diesel engine it isn’t going to be worth it if you have to spend large amounts on repairing the diesel pump or the diesel particulate filter for example. So, be sure to look at all aspects and not just focus on one.

2) A seemingly nice seller definitely sells good cars – Here’s the thing – you don’t know the seller. So never assume their character and definitely don’t assume the reliability and condition of the car based on the seller’s apparent personality. It is wisest to check out the car in the place that it is registered and to, of course, do a thorough check before buying it.

Stop by the New Jersey State Auto Auction for more reliable tips for buying reliable used cars.

#NJSAA

#NJStateAuto

#NJStateAutoAuction

New Jersey State Auto Auction

406 Sip Avenue

Jersey City, New Jersey 07306

Phone: 201.355.4138

Website: www.NJStateAuto.com

 

Myths to Avoid When Buying a Used Car – Part II

By
Posted in Uncategorized

Used Car

It’s a major decision when choosing which used car to buy. Research needs to be well done and test drives are a must. Many people rely on car guide prices and magazine reviews. While they are helpful, relying on them completely can be misleading. Most of all, making yourself aware of common used car buying myths can save you money and frustration. Following are some common used car myths:

1) Fuel efficiency is the most important factor in deciding the right car – While fuel consumption is a major factor,  it isn’t the most important. Things like depreciation value of the car, diesel or gasoline engine, and condition of the engine, among others, are equally as important if not more at times. Even if you get a used car with a fuel efficient diesel engine it isn’t going to be worth it if you have to spend large amounts on repairing the diesel pump or the diesel particulate filter for example. So, be sure to look at all aspects and not just focus on one.

2) A seemingly nice seller definitely sells good cars – Here’s the thing – you don’t know the seller. So never assume their character and definitely don’t assume the reliability and condition of the car based on the seller’s apparent personality. It is wisest to check out the car in the place that it is registered and to, of course, do a thorough check before buying it.

Stop by the New Jersey State Auto Auction for more reliable tips for buying reliable used cars.

#NJSAA

#NJStateAuto

#NJStateAutoAuction

New Jersey State Auto Auction

406 Sip Avenue

Jersey City, New Jersey 07306

Phone: 201.355.4138

Website: www.NJStateAuto.com

 

Why Buy a Used Luxury Car over a New Compact?

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Posted in General Auto News

Generic Luxury Car

If you are in the market for a new car, one of the first questions you likely asked yourself was whether to go with something new or used. Many consumers overlook the fact that many used luxury vehicles can be purchased for the same price or less than a brand new compact car. With this in mind, many consumers find themselves asking the question: new and basic or used and luxurious? We discuss the thought process below:

It is better to buy a used luxury car?

If you want a vehicle that looks great for a deceivingly low price, a used luxury car is a great route to take. A luxury vehicle is likely to have many of the comfort and convenience features that likely are not available on a newer, albeit lesser priced vehicle. While a new compact car may offer more updated technological features, depending on what your priorities in a vehicle are, a used luxury vehicle with premium amenities may be a more compelling proposition to take.

While a used luxury car might make a little bigger hole in your pocket, there is a distinct financial advantage as well – less depreciation. While compact cars are going to depreciate quickly due to a lower price at new as well as far more commonality in the market place, a luxury car will suffer a reduced depreciation rate and will hold its value over a more extended period of time.

While either option has a variety of reasons to make it your next vehicle, a used luxury car is often a route that many consumers do not fully consider.

Visit the New Jersey State Auto Auction to take a look at some great options of vehicles across multiple price points that may be outside of the choices that you were originally considering.

 

#NJSAA

#NJStateAuto

#NJStateAutoAuction

New Jersey State Auto Auction

406 Sip Avenue

Jersey City, New Jersey 07306

Phone: 201.355.4138

Website: www.NJStateAuto.com/?ibp-adgroup=SE_Target