Posted on: 29 September 2017
Now that you're in the market for a vehicle, you're probably wondering whether buying used or financing a new one is the best decision. Here are a few reasons to consider going with a used car over a new one:
Save Some Money
While it's obvious that you will save money on the purchase price of a particular used vehicle over its new counterpart, there are many other ways you can expect to save money by purchasing used cars. For example, your insurance premiums will likely be lower when buying a used car instead of a brand new one, the taxes and fees you'll be responsible for paying will probably be lower, and repairing or replacing parts is sure to be less expensive overall.
Experience Less Depreciation
A vehicle tends to depreciate the most during its first few years of life. In fact on average, a new vehicle loses up to 25 percent of its value every single year during the first five years of ownership. When all is said and done, that new vehicle is worth about 37 percent less than it was when it was first purchased five years ago. So, buying used will help ensure that you don't experience a dramatic depreciation phase that hurts your chances of recouping your investment if you decide to sell it later down the line.
Enjoy More Features
Another great thing about buying a used vehicle over new is that you'll likely have access to some extra upgraded or aftermarket features that cost the original owner quite a bit of money to have installed. But because they've already been installed during the initial purchase, you won't have to pay to have them installed again. Remote entry systems, stereo upgrades, security components, reverse cameras, and more can be yours at a fraction of the cost when buying used.
Take Advantage of Certification
Many pre-owned car dealerships sell certified pre-owned vehicles, which have all been inspected for performance and quality. Certified pre-owned cars are sold at a steep discount over brand new models, and they come with an extended warranty that provides financial protection in case of a major breakdown at some point in the future. Buying a certified pre-used car takes all the guesswork out of the vehicle's condition and helps ensure a smart investment for you.
With these advantages in mind, it should be easy to see how buying a used vehicle over a new one can benefit you without having to make any sacrifices when it comes to comfort and reliability.Share