The incredible savings of purchasing a Craigslist used vehicle

by

Fernando Lopez

In today’s society, it has almost become the standard to purchase a new vehicle when your current vehicle just had enough. While a brand new vehicle has many aspects that are attractive, purchasing a used vehicle could make more sense financially for you. There are several benefits of owning a used vehicle when compared to purchasing new. The biggest advantage of owning a used vehicle is having no payment each month. This frees up a lot of money to do other things with.

The cost of owning a new vehicle is truly astonishing when you factor in all the cost associated with owning a vehicle. First, there is of course the car payment. The average payment these days is around $400 a month for what would be considered a decent ride. In addition to a monthly car payment, you will also pay for car insurance with collision of course. This can cost upwards to $150 a month for premium coverage. Fuel cost are perhaps the next largest expense. Consider a vehicle that gets 26 MPG and is driven the average number of miles per year. This vehicle will cost nearly $100 a month to keep fuel in it. Another cost associated with owning a new car is the cost of maintenance. In theory, owning a used car will cost less in maintenance but this is not always the case. Oil changes, wiper blades, batteries, etc will always need to be changed. This can cost on average $50 per month. One final cost of owning a new vehicle is tax. Depending on the value of your vehicle, you may pay over $500 a year in taxes. Tax will cost you around $40 a month, depending on your vehicle.So what’s the total cost per month of owning a new vehicle? $750 per month is a good estimate. By purchasing a used car, you can eliminate or greatly reduce these monthly expenses. Depending on how little you would like to spend, you can eliminate your car payment, reduce your insurance to less than $40 a month for liability coverage, and reduce your tax amount. The amount in maintenance will be slightly more and fuel will cost around the same. The total cost per month of driving a used vehicle may be somewhere around $250 per month, a savings of nearly $500 per month. Think of all the things that you can do with an extra $500 per month. Purchasing a used vehicle is not for everyone. Some people can easily afford a new vehicle, but for the majority of America, a new vehicle is not affordable. This is slowly becoming a reality for many individuals who have taken a pay decrease or have lost their job. Owning a new vehicle is a great option for some but not for all. Look into purchasing used next time and save hundreds or even thousands a year.Craigslist cars for sale

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The incredible savings of purchasing a Craigslist used vehicle}