The Benefits of Buying a Used Car – Teen Edition

So, you have just passed your driver's exam. Congratulations! This will probably be the beginning of a whole new chapter of your life. You can now take on the open road and experience life to the fullest. But there's one teensy little problem – you need a car!

When considering what kind of car to buy, the very first question that you should ask yourself is "new or used?" Frankly, most people go used for their first car, and there are several very good reasons why.

Lower Sticker Price

Used cars cost a lot less than new ones in just about every way. Because the sticker price is lower, you will be more likely to be able to afford a used car with your part-time job. Remember, increasing your hours at work to afford a flashy car isn't a good idea when you have school work to do, SATs to study for, or college classes to attend.

Lower Insurance

Some other good news on the cost front is to do with insurance. You don't have to get an ancient clunker to end up paying less for car insurance than you would on a brand new car. The rates for new cars can be prohibitively high; in some cases, more expensive than the car payment itself. With a used car, you will have much more affordable rates – something that you will probably need if you are still in high school or college.

Less Depreciation

New cars depreciate to about 40% of their initial value within five years. Thankfully, when you buy a used car, you often miss out on some of the quickest depreciation of the vehicle and buy it at something closer to its actual value. This means lower initial costs for you, and a better trade-in value down the line when you finally get that new car you've been wanting.

Looking for used cars for sale in NJ simply makes more fiscal sense for teens getting their first car. Make sure to do your research on the different models and their various safety ratings and features, accessories, and gas mileage. If you make sure to pick out a safe, quality model, and take good care of it throughout its life (regular maintenance is important for any car, especially a used one), it can last you for many, many years to come.