Although many people look forward to having a new car smell or a vehicle that is in pristine condition, several benefits come with buying a used vehicle. Used cars can still last a significant amount of time and are often reliable if they’ve been maintained well over the years. When you’re in need of a different vehicle, there are a few benefits that can come with buying a used car.
Used cars not only have a lower price tag but can also save you money over time because they depreciate less. Cars depreciate the most in the first four years, making it necessary to buy an older model that has already depreciated to ensure that you don’t lose too much money when you’re ready to resell it in the future. You can get more bang for your buck later on instead of having the price drop by 30 to 50 percent in coming years.
Moneycrashers.com uses the example that someone else paid $50,000 for a Porshe but you’ll only have to pay $25,000. You’ll also end up saving more on taxes, fees, and insurance due to its age and condition. In some states, you also won’t be required to pay any sales tax if you purchase the car from a private seller.
Avoid High Fees at Dealerships
Dealers often add as many fees as possible onto new cars because they know buyers are excited about the model that they’re looking at purchasing. By getting a used vehicle, you can avoid paying for shipping charges, dealership preparation, and destination fees. Most people save an average of 50 percent off of the price of the car when they buy an older model.
You can also have more power when negotiating the selling price of the car if the vehicle is an older model compared to buying a brand new vehicle. More people are also able to pay for it in cash, which can make it easy to negotiate a lower price.
Reduced Registration Fees
Bankrate.com suggests that you can save more money on your registration costs when buying a used vehicle. The cost of the registration is influenced by the car’s transaction price. Unfortunately, many states are increasing the cost of registration, which can be offset if you purchase an older model.
Obtain a Model with a Good Reptuation
Buying a used car will allow you to research the reviews of the particular model that you’re considering owning. You can read reviews from current owners to determine how well it runs and if there have been any recalls. You can avoid purchasing a lemon by obtaining a used car that has a proven track record of being reliable. You’ll have peace of mind knowing that it’ll last longer and won’t have parts that are prone to failing.
Purchasing used makes it possible to view the vehicle history report on Carfax and AutoCheck to understand if there have been mechanical issues or if it’s been in a car accident.
Obtain Specific Features
Caranddriver.com suggests that buying a new vehicle means that you may not be able to get certain rims or features that were once used on older models. Buying an older car can allow you to obtain an option package or a certain wheel design that may is unique or in demand. You can have a wider selection of options when choosing a model that suits your specific taste and style.
For added peace of mind, many dealerships still offer warranties with the used cars that they sell. You can purchase the vehicle and have the cost of various repairs covered if any issues develop in the first year or two of owning the car. You won’t have to worry about being at a loss if the transmission begins to have issues or the engine needs expensive repairs.
Certified pre-owned vehicles are also ideal because they’re like new and will allow you to feel like you’re the first owner. The cars often have less than 36,000 miles on the odometer. They also have never been in a major collision and don’t have major body damage that is present. Many people also choose to purchase certified pre-owned vehicles because they’ve been inspected by professional mechanics and are in proper working order. The warranties that are included also cover the vehicle up to 100,000 miles, which can allow you to get plenty of use out of the car without worrying about how well it’ll continue to run over the years.
When it comes to purchasing a car, there are several reasons to choose a used vehicle that has been broken in. You’ll not only save a significant amount of money but can use a reliable vehicle that has a good reputation in the car industry.