Proponents of new cars are proponents of new cars most frequently for the reasons of technology and safety. Proponents of used cars are often proponents of used cars because of the value of used cars compared to that of new cars. These are the main reasons that people prefer one condition of car over others, though it should be noted that these reasons are not necessarily always shared sentiments by people buying new or used cars, but rather general stereotypes that are more readily applicable in hypothetical or situations generalized for simplicity. Factors of car shopping that take much simplicity out of the process are the factors of down payments and trade-in value. These factors are relevant in different ways for every car shopper because every car shopper is of differing financial status. The main factors of this financial status are the person’s credit history, how much money they have (or do not) have to spend on a car (as well as the secondary costs of owning a car). A potential buyer’s credit history tells the dealer or either new or used cars how responsible a person is with their credit and loaning. If a person stays on top of their payments and pays them on time, this behavior would give the person good credit, helping their chances of …show more content…
A car buyer with bad credit would have gotten into their particular situation by being late on payments to their credit card vendor, and / or buying things they, knowingly or not, could not at the time or in the future afford. These two behaviors do not always feature such extremes, however, whichever category a buyer falls closer to will likely variate the (unset and ever changing) cost of a down payment of an either used or new car. Historically, a new vehicle is almost always easier to finance in the long run, but requires a larger down payment than a used car. As a subsequence of this system, it is much more common for used cars to have significantly higher down payments, and with some cases even the whole payment of the car itself, as to avoid APR and other “hidden” fee dealers of both new and used varieties may sometimes give out. Another variable that is more discrete and not always as accurate in its value to a potential buyer of either a new or used car is the variable of how much their car is currently worth, and how driver’s car’s worth correlates to how the process of