Choosing Your Car

Physician's Money DigestJuly31 2004
Volume 11
Issue 14


In the market for a new car? Think preowned, many car-buying experts say.A new car loses a big chunk of its value as soon as you drive it off the dealer'slot. With a preowned car, the previous owner has taken the depreciation hitand you get the benefit. You may not find the exact combination offeatures and add-ons that you're looking for. If you choose to buy new, takea look at or the Kelley Blue Book Web site ( tosee what the dealer paid for the car. You can then use that information to dickerfor the best price. Lastly, don't take out a long-term loan just to keep yourmonthly payment low. A 4- or 5-year car loan can cost you a bundle in interestbefore you pay it off.

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