- FINANCIAL PLANNING
- OUR BANK
In general, a new car will cost you more to purchase than a used car—but, if the used car is not in good shape and turns out to be a lemon, the total cost of owning a used car could be higher. So, be careful with used cars, because you never really know what you are buying.
If you can afford it, a new car is typically the vehicle of choice. Here are some criteria to help you determine if a new car is suitable for you according to your objectives and needs.
IMPORTANT NOTE: A new car can lose as much as 30 to 40% of its value in the first year. If you plan on keeping the car only one or two years, you may end up losing quite a bit of money.
Try to avoid ordering a new car; delivery can take months and a security deposit will likely be required. If you can, buy one off the lot.
Dealers generally run specials on new cars at various times during the year, offering rebates and low- or no-interest-rate financing. If you can wait, this is one of the best times to negotiate a good price.
Not everyone has the money or the desire to own a new car. If you have the opportunity to buy a car from a relative or friend that you know has taken care of the car, it could be a good deal. Here are some criteria to help you determine if a used car is suitable for you according to your objectives and needs.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Heartland Bank and Heartland Planning Associates are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Heartland Planning Associates, and may also be employees of Heartland Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Heartland Bank and Heartland Planning Associates. Securities and insurance offered through LPL or its affiliates are:
|Not Insured by FDIC of Any Other Government Agency||Not Bank Guaranteed||Not Bank Deposits or Obligations||May Lose Value|