An analysis of the cost of buying a used car

Multiply that number by the price of a gallon of gas in your area. Common maintenance costs include oil changes and tire rotations, which are usually done at 5,mile intervals or, in this scenario, three times each year. If you want to dig deeper into these expenses, look at estimates on Kelley Blue Book or Edmunds. How much routine car maintenance costs Registration, fees, taxes and miscellaneous This part is easy:

An analysis of the cost of buying a used car

The used car business is very competitive, but there are opportunities for business people with a knowledge of cars and a way with people. Making a profit in the used car business requires skills that including the ability to find quality cars at great prices and the ability to fix cars and make them more valuable.

Focusing on the skills you need to make a living in the used car business can help you be more more successful. Locate dealer-only car auctions in your area.

These auctions are restricted to licensed car dealers. This tends to keep prices lower and provides a good outlet for dealers looking to start their own lots.

A steady inventory of reliable used cars is important for those establishing a profitable used car business. Establish a relationship with a good mechanic if you do not have someone on staff who is skilled at fixing cars. An employee who is an experienced mechanic is the best strategy, but using the services of a third-party mechanic can work as well.

Making minor repairs to the used cars you buy at auctions or take in as trade-ins can provide you with a hefty profit when you sell.

An analysis of the cost of buying a used car

Provide reasonable warranties on the cars you sell. While it makes sense to sell low priced used cars on an "as-is" basis, providing a three- to six-month warranty on higher-priced cars helps establish trust and encourage word of mouth recommendations from satisfied customers.

Advertise your used car business in local media outlets, including newspapers, local Internet sites and radio stations. If costs allow, a short spot on a local television station can also be quite valuable. Contact your local talk radio station and ask about any public affairs and local business spotlights.

These radio venues are an excellent way for new businesses to introduce themselves to the public.There are great values in used boats, but the cost is more than ust the price: When we were young, we just loved the idea of buying a new car.

But by the time we've owned three or four of them - often without paying off the balance of last one before buying the next - eventually we discover what a tremendous waste of our financial resources this is.

Vehicle Costs - Transportation Benefit-Cost Analysis

Used Car Waranty Cost - If your vehicle's manufacturer warranty is up, then we offer extended auto warranty to cover the expenses of repairs.

Used Car Waranty Cost Also, when buying a new car, you get a complete guarantee of long-term vehicles. Sep 07,  · The actual cost of owning an used car per year is less as compared to owning a new car. But the ownership cost is not same in all cases. It means the cost will be decided on the basis of total miles, number of years, running condition, etc.

In many cases, a used SUV will have no more than a few thousand miles on it; in terms of the integral structures of the car, that’s relatively low and is essentially the same as a new vehicle. However, there is a psychological component to buying a used SUV over a new one that makes people not willing to spend as much money.

Before you trade your old car in, be realistic about its condition and whether or not the dealership will keep the car for its own used car lot or will wholesale the car at an auction. According to this analysis, the way to find the cheapest used car to own is just to buy the oldest modern car that you can still find running and in good condition, .

The Shocking Cost of Buying a New Car vs. a Used Car – Trees Full of Money