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When it comes to buying a new car, buying one that’s cheaper than a used one can be a good investment, even if you’ve never driven it before.
In the U.S., most car buyers can get a cheaper used car by simply paying less than the sticker price of the car, but that can be tough to do with a new vehicle, especially if you don’t have many savings.
This can be especially true if you’re in a tough spot financially, because it’s easier to get a used car for less than its price than to buy one that costs twice as much, or three times as much.
It’s also often cheaper to replace a used vehicle than to replace it with a brand-new one, according to a new study from the National Association of Realtors.
The study found that in 2016, owners of the new and used cars were more likely to choose to keep their old vehicle for the sake of their finances than to upgrade it.
And while some owners opted for a smaller car, the researchers found that most chose a larger car because they believed the cost of ownership would be lower with a smaller vehicle.
“The most common reason that owners of a new or used vehicle say they bought a smaller or a larger vehicle is to save on costs, and it’s true that smaller vehicles are often cheaper than larger vehicles,” said study author Kevin McBride, the director of the National Realtor Research Center.
“But when the savings are realized over time, the bigger the vehicle, the greater the cost.
In other words, the larger the vehicle the higher the risk of future costs.
That’s not to say a smaller, lighter vehicle is always a better choice, but it’s a better option when the cost is lower and the vehicle is less risky.”
McBride and his co-author, Scott Siegel, also found that some buyers who were looking for an inexpensive new car were willing to pay more than they’d pay to replace an older vehicle.
But they also found some buyers were willing for the higher price to cover the cost to maintain the vehicle.
That was especially true for people in low-income households.
The study found those who make less than $32,000 a year were more than twice as likely as those making more than $100,000 to keep a used, older vehicle for their family.
In contrast, those who made more than a million dollars a year, or about $250,000, were about eight times more likely than those making less than that to keep an older, used vehicle.
This study, which looked at data from a national survey of over 11,000 U.s. homeowners, found that the average amount a buyer would pay to keep the vehicle in their home was $5,500, which includes the cost for insurance, maintenance and taxes.
That amount also includes the costs of a brand new car and repairs needed to keep it in good condition.
For those looking to buy an expensive used car, this could be a wise decision.
The price of a used model car can drop substantially as it ages, especially for people who are in a lower income bracket, said McBride.
But the amount of savings that comes from keeping your old vehicle, even with its low price, could prove significant.
“It is possible to maintain an expensive vehicle for several years, and the amount that is saved is much more than the cost you pay,” McBride said.
“If you’re willing to make those additional costs to keep your vehicle, it’s much more worth it than simply buying a used.”