Hi all, I just gone to look at some second hand cars today and found that the monthly installment is roughly the same for brand new cars. SE told me that 2nd hand cars can drive for 2-3 yrs and sold without incurring much loss, unlike first hand cars that has to be used for 5-6 yrs.
Is that true? Is this the reason why 2nd hand cars mthly installment are the same as new cars? Is there any other reason why I(or anyone) should get a 2nd hand car?
(reason why i looking for 2nd hand is because i want a budget cars. Now, got korean budget cars, so i really can't decide to get a cheap new korean cars or a 2nd hand jap/cont car).
Anyone can advise me? thanks!!
the installment is the same but the loan period is different which means u r paying less..... and i believe if the hand 2nd car PARF or Paper Value may be higher if it is 2-3 yrs ago car....which means u can get back more at the end of the 10yrs lifespan of the car unless u renew the COE.