Why Buy a Used Car?
Are you in the market for a new vehicle but aren’t sure if you want to buy a new or used one? Buying a used vehicle is a great option and is looking better and better. Used vehicles sold at dealers are usually in great shape, only a few years old, and are much more affordable. As the price of new vehicles is skyrocketing, they are becoming more inaccessible for shoppers. Used vehicles are a good way to go and let’s see five reasons why.
The purchase price of a used vehicle is substantially less than that of a brand new vehicle. Save a couple of dollars and opt for the same vehicle, just a year or two old. They’ll be less of a sticker shock when your salesman shows you the final costs. New vehicles depreciate roughly 20% the second they leave the lot and around 10% the first year. Your used vehicle depreciation at a lower rate than a new vehicle. This means if/when you go to sell your vehicle, you’re more likely to get greater value for it. I’d suggest driving a used car and selling it with only a little loss in equity. Let someone else take the depreciation for you. You’ll thank yourself in the long run. Purchasing a used vehicle can sometimes mean you’ll have a lower insurance rate, score! This is because one of the factors insurance companies use is the value of the said vehicle. You may even be able to drive a “nicer” or “better” car than you though since it will be more affordable.
Covered by the Warranty
A concern with most buyers against purchasing a new vehicle is that it will no longer be covered by the manufacturer’s warranty. If this is the case, consider purchasing a certified pre-owned vehicle. They typically offer a warranty based on miles, time, and even have extras like roadside assistance. Purchasing a vehicle that is still covered by a manufacturer’s warranty is great, however, you can still buy additional warranties on a used vehicle from the dealership or an outside company. We will ensure that you are taken care of and covered from front to back.
Variety is Abundant
There are a ton of different used cars on the market. You can find one that’s a couple of years old and maybe the dealer only made that certain model for a limited time. You can find a diamond in the rough.
Vehicles are Lasting Way Longer
Cars are lasting way longer than they used to. Typically, 100,000 miles would be the end of a car wasn’t a Honda or Toyota. Now, manufacturers have made their vehicles more resilient and longer-lasting. They are even offering protection and warranties that go up to 100,000 miles. Seeing a high number on a used vehicle’s odometer should no longer be as scary as it once was. Of course, have the vehicle checked out by your mechanic but this should help you sleep at night. If you plan on running your vehicle to the ground, this is great news.
Complete Vehicle History
Access to a vehicle’s history is super easy. There are companies that offer vehicle reports to see the health status of your potential new vehicle. It will state incidents, flood damage, fraud, salvaged titles, etc. I would still recommend having your vehicle inspected just to make sure everything is A-Okay.