Cars are expensive. In fact, the cost of the average new car topped $40,000 for the first time last year, according to CNET. Meanwhile, the average used car price — which recently spiked to $21,500, according to The Car Connection — still isn’t exactly cheap. And that’s just the price of admission. On top of that, you’ve also got fuel costs, insurance and repair bills, maintenance, and more. Add it all up, and it can knock a huge hole in your budget.
But it doesn’t have to be that way. At Klipnik, we’ve identified an approach you can use to reduce your car expenses by half or more. These aren’t strict austerity measures, like choosing to walk instead of drive. And we’re not talking about buying a clapped-out old Corolla. Indeed, you can apply our approach just as easily to buying high-end luxury cars as you can to cheap econoboxes.
Even with today’s powerful online car shopping resources, which can bring up listings from Anchorage to Atlanta with the tap of a finger, most new and used car purchases are still made within ten miles from home.
But traveling further in pursuit of the perfect car or the best deal is becoming increasingly common.
We’re no doubt preaching to the choir here, but there are lots of great reasons for buying an older used car. If you’re nostalgic for the style of a past era, these vehicles will satisfy your thirst for vintage design. For example, there’s no denying the elegance of a classic Jaguar.
In some cases, older used cars offer performance benefits that are hard to duplicate in newer models. Case in point: With its high-revving, naturally aspirated V8 and sonorous engine note, the E39 generation BMW M5 delivers a driving experience that’s one of a kind.
A couple of decades ago, the search for a used vehicle began with hours spent squinting through the classifieds. You’d then head out to get a closer look at each candidate, and this could involve fending off aggressive salespeople at local used car dealerships or mumbling through awkward interactions with private party sellers. Then along came the Internet, an innovation that allowed us to search for used cars online.
In many ways, the Internet has simplified the process of shopping for a used car. But it can also make this task more overwhelming. There’s an almost endless selection of websites offering to help you select your next pre-owned vehicle, and you may find yourself drowning in a sea of information and choices. These sites aren’t all cut from the same cloth, and knowing which ones you can rely on can be tricky.
Buying a used car is not only the best way to get the most car for your money; it also helps you dodge a massive hit from depreciation. And, in some cases, older models are actually better than newer ones.
However, no matter how well you do your research or how great an example you find, a used car is a complex machine with pieces that, after five or ten (or more) years on the road, are sometimes going to break.