Benefits Of Buying A Used Car
This is why so many car buyers don’t give a second thought to turning to the pre-owned car dealer in search of quality used vehicles for sale.A used vehicle will cost less based on sticker price alone — but that’s not where the savings stop.
You will also be reaching for your wallet much less than if you drove a brand-new vehicle in terms of fees, insurance and vehicle depreciation. Not all used cars aren’t created equal. You must do your homework before deciding if a used car is in good or bad shape. With that caveat, here are six of the best reasons to buy a used car.
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The Advantages Of Buying A Used Car
Buying a second hand car today is probably a good decision when you really want to save a lot of extra cash in the long run, but it can mean a lot more than just saving cash!
SUBSTANTIAL SAVINGS
- Less vehicle depreciation
- Lower insurance cost
- Lower dealership fees
OTHER ADVANTAGES
- Well maintained cars,means better peace of mind
- Original warranties may still be in place
- A diverse variaty to choose from
1. Less vehicle depreciation
Vehicle depreciation is an unavoidable reality of driving, but a used vehicle offers much less depreciation than a new vehicle. New cars typically depreciate about 20-25 percent when they are driven off the lot. And most cars will lose another 10 percent in value during the first year.
A used vehicle depreciates at a much slower rate than a new vehicle. This is because once you’re behind the wheel of the vehicle it will have already undergone its major depreciation.
2. Lower insurance costs
Insurance costs vary based on your age, driving history, credit score, mileage and location. Typically — just as the vehicle will cost less — insurance for a used vehicle tends to be lower than that of a new vehicle.
3. Lower dealership fees
The expected extra fees that come with your used vehicle are not created equal across the country. But they are less expensive than the fees associated with a new vehicle because the cost of the vehicle is less in the first place.
4. More bang for your buck
Stretching your car-buying rands is another major benefit that comes with buying a used car. You can buy more car by purchasing used rather than new. If you have your sights set on a luxury vehicle, you may not be able to afford this year’s model, but one that is two or three years old could better fit your budget.
5. Peace of mind
In the past, driving used cars carried a stigma and many drivers saw it as a risk, but the availability of vehicle history reports has altered this landscape. Drivers now can see details about a car’s ownership, accident history, title status, kilometres and more.
Before signing off on a used vehicle, take advantage of offerings from websites like Autotrader to see history reports on the vehicle. Based on the car’s vehicle identification number, or VIN, these reports provide an array of valuable information including verification of the mileage and whether the vehicle was ever declared a total loss by an insurance company.
6. Better for the Environment
Almost a quarter of the carbon dioxide a vehicle produces during its life-cycle occurs during manufacturing and initial shipment. Buying a used car reduces the carbon dioxide output into the environment. Used cars also impact the environment less than newer, hybrid vehicles.
Next steps
Buying a used vehicle is a great way to get behind the wheel without shelling out as much as you would for a new vehicle. You’ll be met with less vehicle depreciation and spend less on insurance and registration while still having peace of mind that your vehicle is in good condition.
When the time comes to finance used, be sure to check current our vehicle finance page where you can apply online to get pre-arroved,so you know you are getting the best deal available.