Many people talk about a car as a big investment, but that’s not entirely true. An investment is a purchase that will possibly grow in value so you can make more than you spent at some point in the future. This isn’t very common for cars. Many have found that the classic cars from the 1950s, 60s, and 70s have grown in value, but that is not the usual path of a car. Typically, they are at their most valuable while they’re still sitting in the dealership lot. As soon as they are driven off the lot, depreciation begins. They’re not really an investment; instead, you should be focused on managing depreciation. Quality cars that you take good care of will not depreciate as quickly as other cars. They will, however, still depreciate. That can work in your favour, though; if you want to buy a used car, you can get a very high-quality car at a very low price.
Used Car Values
Used cars retain their value depending on their make, model, and condition. Certain brands of vehicles retain their value longer than others; Hyundai is one of these. Hyundais do not depreciate as quickly as other cars, which makes them great if you want to buy a new car. If you buy a new car from one of the many respected Hyundai dealers, you will get a car that will still be quite valuable in a few years. They will make great trade-ins, as well. You can sell your Hyundai in a few years or trade it in and not lose very much money on the initial purchase.
Alternately, if you are in the market for a used car, you should look at Hyundais. Since they are good quality cars, one that has a few miles on it will be just as reliable as a brand new one. In fact, you could argue that they are more reliable because they have been tested in real world driving conditions.
Buy from a Dealer
There is one caveat, though; you need to buy from a licensed dealer. Many people will be tempted by the low prices to buy from a private seller. While you might save a little money in the short-term, you’ll spend much more money down the line. If you buy from a private seller, you are trusting them to tell you the truth or trusting your own mechanical knowledge to spot any problems. There are many short-term tricks one can use to make a car seem like it’s in better condition than it actually is. The problems might not present themselves until you’ve owned the car for a few weeks. Also, there are many hidden problems that don’t manifest until they are big problems. These are things like rust in the floor pans, leaky gaskets, dripping oil, and such. They can manifest as very expensive problems down the line.
Cars from dealerships are inspected by professional mechanics who can identify problems both small and large. They can fix big problems that could be a complication; they could also fix small things before they ever become an issue.