Buying First Car: Should You Buy A First-Hand Or A Second-Hand Car? Explained
Published by Outlook Money
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, said a used car costs less upfront but brings lower mileage and higher servicing costs, and worked through a five-year cost example for a new car covering the loan, fuel, upkeep and resale value.
More of Abhishek's views on money management
Outlook Money weighs a new car against a second-hand one for a first purchase, looking at depreciation, loan terms, maintenance, mileage and resale value. It notes that banks lend less readily and at higher rates for used cars, and works through a five-year total cost comparison of the two options. The article includes comments from Abhishek Kumar.
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Buying First Car: Should You Buy A First-Hand Or A Second-Hand Car? Explained
