Buying used is also beneficial if you’re planning to resell your car after a few years. Since new cars depreciate the most in their first couple of years, you’ve missed the bulk of it when you buy a used vehicle. So when you go to resell or trade it in, you’re going to get a lot more of your money back than if you bought it brand new.
Plus, if you have a dream car that you could never afford new, you just might be able to fit it into your budget if you buy one that has a few years on it. Especially with depreciation being so extreme in the first two years, even a three-year-old version of your favorite car could be a price that fits within your budget and still be in almost new condition!