A service contract will not necessarily cover all forms of potential damage to your vehicle. In fact, it usually won’t. If your car needs repairs that are not covered by the contract, you’ll be paying out of pocket unless the cost is covered by your car insurance.
One of the most significant ways that a used car will save you money is in the realm of insurance, and one of the most important data points considered with insurance is the age and value of your car.
There are many ways in which you will save money by purchasing a used vehicle instead of a new one. These include the depreciation of the vehicle, the mileage, the insurance, the taxes and the type of financing you may or may not need in order to finalize the purchase.