Buying a used vehicle can give you the same satisfaction as buying a new car, you can save money, and your transportation needs will be sorted.
Table of Contents
1. Purchasing A New Car Can Save You Some Cash
Used cars prices are just about fifty percent lower on average than new cars. You’ll be able to pay off the used car a lot faster and in return, save on your financing fees.
2. The Greater Part Of Depreciation Has Already Happened
Consumers complain all the time about how quickly their new car depreciates. The value of your new vehicle can drop by eleven percent just by driving home from the dealer, and it continues depreciating as the year’s pass. With a used vehicle, the more significant part of the depreciation has already happened. Some older cars may even increase in value.
3. No Embellished Fees
When you get a deal on a new car, it might look great at first, but with many new vehicles, there are hidden fees like destination fees, shipping fees, and dealer preparation fees. Used cars generally come with no hidden fees. However, you may be charged a document fee which can amount to a few hundred dollars.
4. Certified And Inspected In Detail
When you’re shopping cheap cars for sale, certified pre-owned cars assure buyers that they are obtaining a quality and a thoroughly inspected car that also comes with a more affordable price tag. Certified pre-owned cars have been refurbished, inspected, and certified by a certifying authority or the manufacturer, assuring you the car is of high value. These vehicles often come with a prolonged warranty, special financing as well as other perks.
Some used vehicles may still have their original warranty. Other used vehicles may have a choice of creating a new warranty. A prolonged manufacturer warranty on a used vehicle can offer factory-trained technician to carry out repairs on your car with prompt service and quality parts.
6. Reduced Insurance Premiums
If you are involved in an accident with a new vehicle, the insurance will only pay-out for what the vehicle is worth at the time, leaving a gap between what the vehicle is worth and the purchase price. This is what gap insurance is for. This insurance can cover the difference between the purchased amount and depreciated value, but it means your insurance premium will be higher. Gap insurance is not needed with a used car when the depreciation has already happened.
7. Eco-Friendly Option
Purchasing a used vehicle lowers carbon dioxide emission into the environment. Used cars even have a lesser impact on the environment than hybrid cars. Hybrid cars utilize lead-acid, lithium-ion or nickel-metal hydride batteries, which have a more substantial environmental influence that leaves behind toxic waste (cells and acid).
8. Reduced Annual Registration Fee
The rate of the yearly registration fee in most states is based on the vehicle’s value and the model year. Usually, the price is highest in the first 3 years. You can save more or less 1000 dollars by not having new and annual registration fees due for buying a vehicle that is at least 3 years old.