Thursday, February 14, 2013

4 Used Car Buying Myths

From Financial Awakenings
By Rick Kahler

Have you ever seen a Super Bowl ad touting how much money you could save if you bought something second-hand? Of course not. There’s not a lot of encouragement in our culture to buy used stuff. Even the one exception, a used home, is described as “existing.”

Buying used just isn’t cool—that is, unless you’re a wealth builder. Many of them look upon buying used as more of a badge of honor than an embarrassment.

Certainly, there are many items that are best purchased new. Toothbrushes, toilet paper, and underwear come to mind. Yet there’s one thing that’s almost always better to buy used — a vehicle.

Let’s look at a few common myths around buying a new car.

  1. "Buying a used car is just buying someone else’s problem." That can certainly be true if you don’t do your homework. When shopping for a used car, be sure you research... [continued]

Read the complete article on