Depreciation
The minute you drive that brand new, $50,000 car off the lot, it is going to reduce in value immediately. In fact, the new value could be closer to $20,000 or $30,000.
With a used car, this isn’t the case. In fact, you can appreciate the value of a used car with upgrades if you choose to do so. You don’t have to worry about getting hit, or a dent or scratch completely devaluing your vehicle the minute you drive it off the lot, as is the case when you choose to buy a new car.
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