Savings on Wheels: Why Buying Used Cars Makes Financial Sense
When it comes to purchasing a vehicle, buying a used car can be a smart financial move. In recent years, there has been a noticeable shift in consumer behaviour towards buying used cars Illawarra , driven largely by the potential cost savings involved. This trend is not just limited to individual buyers but also includes businesses looking to optimise their transportation costs. In this article, we'll delve into the various reasons why buying a used car makes financial sense and explore the potential benefits that can be realised. Section 1: Depreciation The concept of depreciation plays a significant role in understanding the financial advantages of purchasing a used car. New cars typically experience a rapid decline in value within the first few years of ownership. For instance, statistics show that a new car can lose up to 20% of its value as soon as it is driven off the dealership lot. Over the first five years, the value of a new car can decrease by as muc...