Will Buying a Used Car Save You Money
Shopping for a new vehicle in Pueblo can be difficult when you’re on a budget. How can your family afford a newer SUV or truck when you have a low income? The best way to save money on a vehicle purchase is by buying a used car.
Used vehicles cost less money to purchase
You pay less for a used car in two ways: the overall purchase price and the monthly bill you pay. A previously owned vehicle has undergone depreciation, and its lower value is reflected on its cheaper sticker price. Plus, a lower purchase price means you’re spending less total money on sales tax and cumulative interest on a loan.
So, a used Chevrolet Silverado truck will naturally cost less money than a brand-new Silverado — even if it’s only a few years old. That reduction in total purchase cost means you can keep more money in your wallet every month when making the monthly payment.
Have money available for pressing expenses
Why does a lower monthly payment matter when you have a limited income? It frees up your finances to handle more urgent expenses every month, like credit card debt and medical bills. Even having an extra $50 in your pocket every month can save you from getting further into debt.
Conversely, when you pay more money to buy a brand-new vehicle, you are straining your immediate finances. This could worsen your situation with harsh interest fees and late payment penalties if you can’t foot the bill.
Southwest Motors wants you to know that a low income doesn’t have to prohibit you from getting a better vehicle than the one you currently drive. Trade in your old ride for one of the hundreds of used cars for sale at our Pueblo dealership, including many products under $15,000 from budget-friendly brands like Mitsubishi, Kia, and Ford.