When it comes to choosing new vehicles, drivers often find it difficult to choose between buying a brand-new car or a used car. One of the main worries about used cars is the possibility of buying a nice vehicle that turns out to be not so nice. But with some good research, you can easily avoid the bad apples and take advantage of the perks of buying a used car, four of which you’ll find out about here.
Avoid Most Depreciation
One of the most frustrating aspects of buying a new car is when owners find out the car’s value depreciates by anything between 20 to 40 percent within the first two years of ownership. Furthermore, it’s not uncommon for a car to depreciate by 40 percent in the first year. When you buy a used vehicle, you often avoid that early big depreciation after purchase, compared to buying a shiny new car straight from the dealership. The end result is that you can typically drive a used car for however long you need it and sell it yourself at a much lower loss than the original driver took when he or she sold it to you.
Dealerships typically stock cars that have been built within the last two years. When you buy a used car, you have a much larger inventory to choose from because you can buy a car from any year you want. This benefit of used cars comes in particularly helpful when you have a specific vehicle from a specific year that you like, or if you’re a car collector looking to add a certain unique vehicle to your collection.
Insurance companies, like most businesses, price things according to their value so as to make the maximum amount of profit. The simple unavoidable fact about used vehicles is that they’re a lot cheaper to fix in the event that they get damaged in an accident. When you buy a used car, you pay less on insurance premiums than you would for a brand-new version of the equivalent vehicle. More money in your pocket at the end of the day is always nice.
The other glaring yet important perk of used cars is that they cost a lot less than brand-new ones. Brand-new cars are delivered straight from the factory, meaning they haven’t been tampered with or used in any other way. As soon as you wait until a car is two years old before buying it, the wear and tear reduces its value so you can purchase it for significantly less money.
In the long run, if the shiny new car look, that new vehicle smell, and getting an undriven vehicle aren’t important to you, you’re better off opting for used cars. Used cars save you money in almost every way, the choice of vehicles is a lot wider, and you don’t suffer much monetary loss if you decide to sell a used car later.