When most people picture a used car, it is an image of an old vehicle with chipped paint, rusted rims, and a cracked windshield. Yet, this image is almost entirely inaccurate. While there are a few cars in poor condition, most used cars are in their best running condition.
What do you need to know about buying a used car?
If you are contemplating whether a second hand car is the right choice for you, below are some points that could help you decide.
Better price and more savings
Generally speaking, second hand vehicles are almost 50 percent cheaper than brand new cars. This means that when you opt for a used car, chances are you’ll be able to buy it at a lower rate. And it also means more savings for you! You’ll also be able to pay off a used car in shorter terms which could help you save on the financing fees. If you are trying to work within a budget, buying a used car would be an excellent option.
Brand new cars depreciate fast. In fact, they depreciate as soon as they’re driven off the lot. The value of a brand new car can drop by 11 percent as soon as you drive it home. It will continue to depreciate as weeks, months and years go by. If you go with a second hand vehicle, you won’t have to deal with depreciation since most of it has already occurred. Some new vehicles lose as much as 40 percent of their value during the first year. And it is not something you’ll have to deal with anymore once you roll off the lot.
Lower customization costs
A lot of car owners prefer to customize their vehicles. If you decide to do this with a used car, you’ll be able to save a lot more. Most of the time, the add-ons and extras on new cars are more expensive. But they do not impact the car’s resale value. With second hand vehicles, you can get the extra features at a much lower cost.
Lower registration fees
In most states in the US, the rate of the annual registration fees are determined by the car’s value and model year. More often than not, the rate is higher during the first three years and it falls off after five years. This means that buying a second hand car that is at least three or five years old will let you save on the market price. It will also help you save thousands on other expenses such as the annual registration fee.
Buying a used car doesn’t mean that you’ll have to compromise quality and reliability. Most of the cars built today are built to last. This means that you can still get a vehicle that is in an excellent condition at an affordable price. In fact, if you are quite knowledgeable about cars, it will be easier to find one that looks and runs like brand new.
Wide variety of options
If you are searching for some older car models, chances are, you’re not going to find them in new condition. However, choosing a used car gives you a wider selection of options when it comes to types and models. This means that your choices are not only going to be limited to the latest models. You can choose the one that fits your needs best.
Torn between new and used vehicles? This article should help you realize why second-hand vehicles are an excellent option. With the many benefits listed above, you won’t go wrong with buying a used car. Especially when you buy it from a trusted dealership. For more information about used vehicles, please visit The Auto Warehouse.