Vehicles
“Driving off the lot reduces the value of the vehicle by several thousand dollars,” says Kristin Tucker, financial coach at Family HomeWorks. She recommends purchasing a newer pre-owned model but not before making sure it has been checked by a mechanic. Zoriy Birenboym, CEO of eAutoLease.com, says it can be a smart decision to buy a used vehicle during times of uncertainty, either for you personally or for the economy in general, and nothing spells uncertainty like the current coronavirus pandemic.
In such a situation, purchasing a used car and having a low debt, or not at all, “would probably be the best thing. Just in case if things get worse you don’t owe anybody anything, and if there’s a problem keeping the insurance policy active, you surrender the plates and hold the car parked for a better brighter day!” Just make sure you are aware of these 7 Car Dealer Tricks Used at End-of-Year Sales.
