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Old 07-21-2007, 01:39 PM
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Re: Should I buy a new car, or restore an old one?

Why does it have to be a new car? There are plenty of "almost new" (one to three year old vehicles) out there for sale at much lower prices (and monthly payments) than brand new. Also a large chunk of the depreciation has already been taken off by the previous owner, and your insurance bill could be lower because it's not considered brand new any more. The auto industry has changed so much in the last decade with the influx of "off lease","program cars" trade in, etc flooding the used car market.In fact there are many dealers now that deal exclusively in these vehicles and a couple in my area gave up their new car dealerships in favor of selling these cars alone.
You can get many vehicles just 2 to 3 years old that are over $10,000 off the price they were new, and many of these vehicles have low mileage.
By buying one of these vehicles, you can save money, and then take that "saved money" and buy a car to restore later on. The best of both worlds.
Something to consider.
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