It is an ongoing debate about whether buying a new car is better or opting to buy a used car. Here is the list of top 10 benefits for buying a used car.
Hopefully, these will help you make an informed decision.
- 1. Car Depreciation – All cars undergo depreciation irrespective of their brand. Thus, when you buy a used car, it has already undergone depreciation. Thus if you decide to sell your car, you can recover almost the entire cost of buying your car. However, in the case of a new car, you will lose out on money because of depreciation.
- 2. Low Insurance rate – It is common knowledge that the higher the value of your car, the higher is your insurance premium. Thus, when you buy a used car, you also pay less on car insurance.
- 3. Less Registration fees – In most places, the registration is based on the car’s value and model. Also, it is highest in the first three years. Thus, when you buy a used car, you also save money on registration. As many states charge less for used cars.
- 4. High model car in the same Budget – If you decide to buy a new car, you may end up buying a basic level car owing to budget constraints. However, if you opt for a used car, in the same budget you can buy a high-level car. Thus, you get the model that you wanted without paying a high price.
- 5. Cheaper Warranties – Many used cars still have ongoing warranties. Also, some cars may have options for extending warranties. And even if you need to buy new warranties, it will still be cheaper than buying a new car with warranties.
- 6. Customization at low cost – Customization cost is very high for new cars. In the case of buying a used car, you can get your customization at a lower cost. And since you save money on an expensive new car, you can get customization without spending excess amount.
- 7. No hidden costs – Often new cars come with hidden costs such as hidden taxes, advertisement costs and so on. This often overshoots your budget. However, with used cars, there are no hidden costs. The price you agree with is the price that you pay.
- 8. Certified pre-owned cars – You can now buy used cars without any worries. With the emergence of certified pre-owned cars, you no longer have to worry about the condition and the quality of the used cars. CPO cars are refurbished, re-polished and repaired to give it a long life. Thus, you don’t have to worry about the quality of the used car that you buy. Sometimes, these cars perform better than new cars.
- 9. Condition of used cars – With the emergence of new technologies, the cars are sturdier than the earlier ones. Thus, the life span of cars is not affected when they get old. Also, even if you buy a used car, they last you a long time without giving you any trouble.
- 10. Variety – Though there are hundreds of new model of cars available on the market, their life as a new car is limited. With every new model that enters, the earlier model becomes less popular. Thus, if you are looking for a particular car model that no longer is in demand, you can still buy them as pre-owned or a used car. With so many advantages of buying a used car, it is practical to invest in them. Especially since the qualities of a pre-owned car is as good as new. Also, if you are new to driving, or have a transferable job, buying a used car is more practical than buying a new one!