New Car or Used? Making the right choice

It’s a nice feeling driving out of the car yard in a brand new car, though it’s not a nice feeling knowing that as soon as you drive off the block a new car depreciate in value immediately.
When buying for private use and not for business you may not be able to claim depreciation as a tax deduction. This is a cost that should be considered when buying a new car. Many people ignore this substantial cost because it is a cost that you may be unaware of. A new car loses about 40% of its value in the first three years of its life.