Buying used can save you thousands upfront and over cycles of ownership, but buying new has other advantages.
While buying new cars is enticing, you should take a cold, hard look at how much you could save over time by buying used cars instead.
The average person owns 13 cars in a lifetime, each costing an average of $30,000, according to a report by the National Automobile Dealers Association. If each of those cars was 3 years old, instead of new, you could save nearly $130,000 during your lifetime.
The real money-saver in buying a used car is wrapped up in a sinister-sounding financial word: depreciation.
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