The time has come to buy a new car. The old hunk of junk sitting in your driveway needs to go, and in its place will sit something new and improved. But when it comes to actually buying a new car, the decision to purchase a brand-new or used vehicle can be daunting. As it turns out, much like buying a new car, there are many advantages to buying something used. Here are just some reasons why buying used is the way to go.
It’s the most obvious reason to buy a used car, but it’s also the number one reason. By buying a vehicle two or three years older than the current model year, you’ll be saving plenty of cash. In some cases, a used car can be as much as half the price of its newer iteration. So if you plan to visit a car lot anytime soon such as Rocky’s Auto Credit, make sure to check out the used car section and compare their prices to some of the newer vehicles on display.
When you drive a brand-new car off the lot where you bought it, it begins to depreciate. Naturally, you’d expect this with any new car. But as it turns out, new vehicles tend to depreciate as much as 11 percent between the time you drive it off the lot to the time you get it home. You can lose thousands of dollars in value this way.
Meanwhile, when you buy a used car, that accelerated depreciation has already occurred. This means you won’t lose an insane amount of money just by driving your car home. Plus, you get the car for a lower price which will, therefore, lead to a better resale value if you ever decide to get rid of it. The car will still depreciate over time like any other car, but it certainly won’t happen as fast.
Lower Insurance Rates
Signing up for an insurance policy on a new car can be stressful, mainly because of how much money companies want from you each month to protect your investment. Instead, by getting a policy for a used car that’s been sitting around for a few years, you’ll pay much less since you aren’t paying to protect the glitz and glamour of a brand-new model. This can be a deciding factor for many people debating whether to get a new car or something used. Be sure to keep this in mind when you head to the dealership.
If you go to a local car shop to get a brand-new car repaired, there may be a chance the shop has to order unique or abnormal parts that can cost more than you’d expect. Meanwhile, with a used model, the shop may be familiar with repairing your age-old car and have easier access to specific parts and tools to patch it up. So not only will you have a lower repair bill, but you should also have a simpler time getting it back up and running.
With these tips in mind, we hope you’re able to find the perfect used car for your lifestyle. Trust us, you won’t regret your decision by going the used route!