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Buying a car
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Financing for which kind of car usually offers a lower interest rate?


Interest rates are usually lower for a new car.

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Insurance usually costs more for which kind of car?


New cars are worth more, so it makes sense that insuring them also costs more.

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Key Takeaways

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What's the right car for you? Before deciding, consider all the options and variables. Here are a few things to think about.

  • Weigh the lower cost of a used car with the better reliability of a new one
  • Remember that new cars lose their value faster than used cars
  • Also remember that financing for used cars tends to offer higher interest rates than for new cars
  • Be sure to include less obvious costs of a car in your budgeting—things like gas, insurance and unexpected repairs