Rob Roy is toying with the idea of buying a used car every three years instead of leasing or buying a new one. Assuming he can find a one-owner with low miles in good condition, what advantages might he enjoy?
What will be an ideal response?
Answer: Today, there are many good used cars on the market because so many people are leasing new cars instead of buying them. When the leases are up, the dealers put them on the "pre-owned" lot. In general, a used car costs less and requires less down payment. A used car tends to decline in value much more slowly than a new car. A used car can be a real money saver. The savings from buying a used car instead of a new one every three years have been estimated to be between $1,500 and $2,000 per year, which will put more dollars in your pocket to spend on other things you want.
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What will be an ideal response?
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