It was Friday, November 1st. I had fallen asleep on the couch and was reaching for the remote to turn off the television.
And there it was.
A Lexus – December to Remember – commercial.
Yes. On November 1st. Before we’ve even had a chance to buy cranberry sauce and stuffing.
At any rate, the advert featured a father and son and their attempts to hide a big red bow from Mom in various cupboards and closets. Said bow later served its purpose by gracing the roof of the brand-new Lex in the driveway. Everyone was insanely excited at the climax of the commercial. Mom even looked like she was going to cry.
If you have brand-new Lexus money, I salute you. You have clearly made good life choices.
However, are you sure buying a new car is one of those good life choices?
A new car has no history, which means no accidents (vehicular or biological). A new car has the latest in technological features. A new car is under factory warranty. Finally, a brand-new car has that brand-new car smell.
Considering all these fabulous attributes, why would you buy a used car?
Used cars don’t cost as much as new cars. We know that. Nerdwallet.com points out insurance and registry rates are cheaper. In addition, as Langley Steinert, founder of CarGurus.com says, “you’re going to take a deprecation hit on a new car. If money is your primary focus, then it doesn’t make a lot of sense to buy new.”
And as far as that “new car smell” goes, did you know that the new car smell “actually contains volatile organic compounds off-gassing from new plastic and vinyl interior surfaces”? That’s why Cars.usnews.com suggests, upon buying a new car, that you open all of the windows and hope that smell dissipates as soon as possible. If you don’t know what off-gassing is, it means when something gives off a chemical, “especially a harmful one, in the form of a gas” (Lexico.com).
Whether you are Team New or Team Used, there are a lot of things to consider with such a large purchase. So, when you want to buy a car, talk to your local car dealer. When you want to know if you should buy a car, talk to your friendly Bourke Accounting associate. Our Bourke Accounting experts can help you decide what your best course of action might be. They can assist you in figuring out a budget that either gives you a “December to Remember” or a 1952 Ford Mercury (go Team Used!).
Written by Sue H.