Save Money By Purchasing a Used Car

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Many people now consider buying used cars as opposed to new ones for a number of reasons. First of all, prices of used cars are lower, as well as expenses incurred while buying like taxes, insurance and others. Apart from price, it’s not the only consideration when buying used. After all, it is important to strike the right balance of risk and value. These include;

Reliability – Used cars have become more appealing owing to their improved reliability. Consumer analysis reports indicate that vehicles that have been used for five years in recent years have fewer problems when compared to the five year used cars in 2007. Some years back, cars exhaust system and rust problems were quite common. These days however, problems are rare as materials have improved. Newer, used cars can go for more than 100,000 miles without the need for an overhaul. Some go for even 200,000 miles plus.

Depreciation – Buying a new car has one disadvantage which is rapid depreciation. Used car buying can prevent this. Depreciation is determined by the model of the car, design generation, perceived quality among other factors.

Insurance – Used, older vehicles cost less in insurance as compared to new ones, period.

Registration Fees – Many states have increased car registration fees in an effort to obtain more revenue. Because registration fees are based on the car’s purchase price, you can save on registration fees by purchasing a used vehicle.

Additional Value – When buying a used car, in many cases your dollar goes a lot further. The difference between one or two thousand dollars could mean a newer, used, car or different model.