Ten Reasons a Used Car Is More Beneficial Than a New Car
Buying a car is one of the biggest decisions in a buyers’ life after buying a house. The choice to buy a used or new car can be difficult, used cars are often a better buy vs. purchasing a new car. Here is a list of benefits to consider when buying your next car.
Take into account that used cars of today are typically held to a higher standard than they were 20 years or even 10 years ago.
Why a Used Car is A Better Buy than a New Car
Availability/ Selection – Used cars and used car dealerships offer a wide variety of makes and models and with a quality used car dealership; you can rest assured that you will find a car that suits your taste and needs. Many times a used car may be last year’s model, so you can get a near match of a brand new car, with many of the latest features, at a tremendous price reduction.
Price – This will be the biggest draw for everyone and possibly the final decision when buying a car. New cars can be outrageously priced and dealerships will often seek a substantial down payment. Often, there are fees and add-ons that you really don’t want like clear coats and rust protection – with a used vehicle this is not a concern.
Certified Pre Owned Programs – CPOs offer a great sense of security for your mind and wallet. These are programs in which a used car is evaluated and worked on to make near brand new. The modifications made often include performance work as well as making sure the car is aesthetically sound and pleasant to look at. As a bonus the CPOs will usually have an extended warranty that will go far beyond that of a dealer warranty and offer the same benefits like road side assistance.
Owned By a Single Owner – Once in a while you can find a used car that has been owned by a single owner. Single owners usually take exceptional care of their vehicles and can be counted on for honesty and trust. A lot of times they will have accurate records of the used car you are about to purchase so you have piece of mind in knowing that it is in perfect working order.
Reliability – Modern used cars are different than they used to be. Vehicles of today are made to drive well past 100,000 miles, and with good upkeep. It’s not uncommon to see vehicles that are in the area of 200,000 miles or more and still running well.
Lower Registration Fees/Insurance Rates – Registration and insurance is determined by the year of the car and its value. A new car is astronomically more in price to register and insure than any used car you will find. Sometimes the registration and insurance combined with the added features can be thousands of dollars more a year on a new car then that of a used car of the same make and model just a few years back.
New Cars Depreciate – New cars depreciate in value immediately after driving them off the lot. You can count on losing a significant percentage of your cars value in the first three years. Used cars on the other hand depreciate in value at a much slower rate so you can count on losing less money over a slower time vs a new car where you will lose a lot of money very quickly after your purchase do to appreciation.
All in all New Cars are great if you have the money but in today’s economy there is no reason to spend so much on a vehicle when you can purchase a quality used car of an equal or near equal performance level for half the cost or sometimes more. With a little research and patience you can find a used car that will contend with or surpass a new car any day of the week!