Buying used cars in Tiruppur has become easier because of the many choices that are available in the market. You can get used cars in Tiruppur at close to half the price of a new car. The following are some of the reasons why getting a used car is preferable;
New cars are usually priced at a premium, and the prices are fixed. There are also other hefty fees that you must pay for a new car. You will be required to pay a downpayment of not less than 10% before you get a new-car loan if you choose to get financing. A used-car will be half the price of a new-car on average. You will be able to pay off the loan faster if you take a loan to buy the car. This saves you from paying a lot of financing fees.
New Car Depreciation
The value of a new car drops immediately it is driven off the dealership lot. The vehicle will have lost roughly 20% of its value if you decide to return it during the first year. It is expected that the car will lose at least a third of its initial value in the first two years. You are not affected by the massive depreciation during the first years of ownership when you buy a used car. The rate stays the same for the second to the fifth year before rising rapidly. Most used-cars in the market have been used for between two to three years. This means that you will be buying it at less than 70% of its value at the time of purchase. This is a huge advantage for those that buy used-cars if they choose to sell the car. They will be able to sell it at a price that is close to the initial value because the value will not have depreciated greatly. A car that has been in use for a long time has a lower price. You can choose to buy a five-year old car if you want to save even more money.
Condition of the Car
The reliability of older cars has improved the market for used vehicles. Cars are able to stay in good condition even after years of prolonged use. The range for a car was capped off at 100,000km, but newer cars are able to be driven for 200,000. This means that you will not experience a huge difference when you drive a new car or a used one. It is possible to get a used car that is in good condition and has no mechanical issues today. You do not have to worry about anyone finding out if the vehicle is new or used. Manufacturers do not release a new car model each year like it was the case some years ago. One cannot tell if the vehicle is used if you buy the car before a new model is released.
The amount that you will pay in insurance is affected by the age of the car. A car that has been used for a longer period will have a lower value because of depreciation. This will decrease the payments that you make to insurance each month. You eventually pay fewer costs to own the car than if you had bought a new one.
You can get two cars instead of opting for only one new car. This is beneficial if you intend to use the cars for different tasks or if you want to buy it for your spouse. It will be convenient for you while still making sure that you get a bargain. This is boosted by the fact that cars are able to be used for a long time. A car has to be in deplorable condition for it to be considered un-roadworthy. There are certain types of car models that are not in production. You will not be able to get a new car of the model that you want.
Cost of Ownership
The cost of owning a new car is very high because of the additional fees that are involved. You must pay a sales tax when you buy a new car. Most people tend to buy cars that have been used for less than five years. The factory warranty will be valid. This means that the manufacturer will cover all of the repairs. The manufacturer will also cover the cost of maintaining the car in some cases. This includes the spot checks, oil changes, engine maintenance, and tire replacement. You get to enjoy all of these at a lower price.