If you’re looking to lose money at a significant rate, invest in a car.
Yup! We said it.
A not-so-fun fact is that a new car loses an average of 10 to 11 percent of its value once the driver leaves the dealership.
Its value drops year after year. Even though all cars lose value at different rates, you realize that the car you bought at a high price, is now valued for way less than you anticipated when it’s time to sell the car.
This value loss affects new cars even more!
Reports show that depreciation accounts for almost 40% of the cost of owning a new vehicle, which is more than N1,000,000 per year. By the time it’s a year old, the vehicle has lost nearly one-third of its value.
Don’t freak out, breathe, the cavalry is here!
The winning shot for this fight against car depreciation is buying smart.
You should consider buying a quality pre-owned vehicle.
If you buy a verified car that’s one or two years old, it’ll still depreciate, but the good thing is your losses will be minimal and you will avoid the initial hits the previous owner took which are:
- Escaping the initial price.
- The new car registration fees such as customs duties and papers.
- Affording a car with upgraded features and more.
Buying a used car is possible in 3 easy steps!
1. Visit any CarsBazr lot closest to you and choose from an extensive variety of pre-inspected and affordable used cars.
2. Read the detailed inspection report of the car’s condition, which helps you make a buying decision. You can also come with your mechanic to check the car’s condition before purchase.
3. Make payment for the car through a bank transfer or make a bank deposit into the company’s account.
4. Sign the required documents and drive your new car into the sunset.
Visit www.carsbazr.ng to search for your car choice and get full details of the car along with the inspection report which is also available on the website.
We know we’re too much, so don’t thank us.