Car Solutions Canada How Old Should a Used Car Be | Page 10

No, this doesn’t mean that someone without any savings shouldn’t buy a car. It
simply means that they need to look at their finances and know what they can
afford per month for payments or a lease. That’s the first true indicator of what
they should look at for in a purchase.
For people who have enough money to make the monthly payments for a new
car, then it is an option. Just remember that just because a person can afford
four hundred dollars a month in payments, doesn’t mean that they have to pay
that. Saving a bit of money each month should be a consideration as well. A
used car means lower payments per month and gives more flexibility to one’s
budget.
If a budget reveals a more limited amount of money is going to be available at
the end of each month, then one needs to consider a used car. A car’s value
drops the moment it leaves the lot and there is thousands of dollars in savings
from buying a car that is just one year old!