Posts Tagged ‘budget used cars for sale’
Older Used Cars – Avoid Getting Screwed
If you have just finished up your education and you’re a young person, chances are you will be getting to work on your very first job soon. You will most likely require a car for your first job. If you’ve never had a job and a decent income yet, you will not be able to afford a new car. People will start looking around for older used cars for sale at this point.
Some used cars are good, others are bad. The good ones are the ones that have had proper maintenance throughout their years. Ofcourse you want to protect yourself against buying a used car that’s just plain bad. You know what I mean, one of those cars that’s all rusty and goes to the scrapheap a year after purchase. Paying too high a price for an old used car is something you want to avoid. Car pricing guidelines are important to know about before you buy anything. Let me give you some advice that you can use to decide what to pay for cheap old cars for sale by owner of all kinds.
For a new car, you will have to pony up somewhere between $9,000 and $23,000. The price will be higher for bigger sized cars. Right after you roll the car out of the showroom, it instantly loses half its value. Buying a new car and then selling it quickly, would make you lose thousands of dollars in almost no time. This is why most people hang on to their new cars for at least a few years.
When cars reach the age of 5 years and over, their owners want to buy newer ones. Any 5 year old car is considered to be ‘old’. The price for a car that’s 5 years old should never exceed 15%-30% of its original value. It has to be closer to 15% if the car is more damaged than average. If the car looks like it’s in good health, somewhere around 30% is fine.
When you are looking at older cars for sale that are much older, say around 10 years, the price really may not exceed 20% of its original value.
These pricing guidelines are important to think about when looking for budget used cars for sale.
You will prevent wasting your money this way!