4 Advantages of Buying a Used Car
There are many questions when it comes to the process of buying a car; the simplest one is probably the most important: Should you buy a brand new model or used? To help you choose, we’ve laid out the advantages of both below. Keep in mind that the pros in the used column are big ones and in many cases can be more to your advantage.
1. Price
Comparing apples to apples, a used car is going to be less expensive. The relative advantage of the used car price can also allow a buyer to step up to a nicer model. Almost everybody who buys a car has a budget, which unfortunately gives you access to only a few new cars, however for the same money you get much better used cars in the market. Sure it’s not a 2017 model but it probably was the best in class when it came into production, so why do we have to follow the manufacturer’s timeline? Keep in mind that a well maintained car can last 10 to 15 years before you start to see minor damage. Make sure to do your due diligence a buy a car model that retains its value the most for the time you are going to drive it.
2. Depreciation
Cars lose value with each passing year and mileage, but the most brutal decline happens right away, when you take your shiny brand new car out of the dealership; some models can even lose 40 percent or more of their value within a year. Although, your used car will depreciate in time, it is not close to the rate the previous owner experienced with the same car.
3. Insurance Rates
Similar to financing, insurance rates in will be affected by the age of a car, but in this case the used vehicle tends to be less expensive when it comes to monthly payments. A little bit of pre-purchase research will save you from insurance sticker shock, no matter which vehicle you choose.
4. Choice
Although you obviously can’t build a used car to order, maybe you want a model, option package, or even wheel design that’s no longer made. This wider selection can add to the length of the search, but perfection and satisfaction rarely come easily.
The bottom line
If the financial aspect and all the above considerations are more important than showing up in the next best thing, a used car will be golden.
