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The average new car costs around $20,000.00
In addition to your trade in, you’ll have to Make monthly
payments for 3 to 5 years (and, Of course, a new car loses about 25%
of its value the minute you drive out of the Showroom.
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Sure, you’ll have a shiny new car you may come to love or
hate.
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You get a new car warranty.
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Finance charges are expensive.
At 8% you get socked for $2300
over 3 years.
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Insurance costs will probably go up.
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You could lease a new car, but you won’t build
Up equity. With a
$300/36 month lease, you’ll Have nothing to show for your money
except
$10,000 worth of receipts.
Excess mileage is costly.
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Sales tax on a new or leased car will hit you for $1000 to $5000 or
more (depending on where
You live).
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You may gain a few options like a CD or sunroof.
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- You can have a used or rebuilt engine installed or between $1800 and $2500 (most
cars). You save about $18,000 compared with a new car.
- Your car will increase in value and gain a zippy New lease on life.
- Your engine should perform “like new” for tens of thousands of miles.
- Financing can usually be arranged with low Monthly payments. With all the money you save, you can continue to save for a new car.
- No Increase in insurance.
- Drive as many miles as you like!
- Sales tax should be around $120.00
- You can add whatever accessories you need for far less than car dealers charge.
- With it’s new engine, your car will be worth more as a
future trade-in or to sell or pass on to family or friends.
- You’ll be doing your part for the environment by having a recycled engine in your recycled and renewed car.
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