Considering the Benefits of Buying a Used Car
It is time to replace your current vehicle and many prospective car buyers are faced with one hard, controversial decision: Do you buy a New or Used vehicle? There are many good reasons to buy a used car, such as having a greater selection of vehicles in your price range, but probably the biggest draw for used-car buyers is affordability.
Buying a used car could get you the most vehicle for your money by far, but has a little more risk involved.
Price There is no doubt that buying a used car compared to buying a new car is going to be less expensive.
New car owners often take a significant knock as brand new cars can lose a lot its value in the first year alone! Second hand buyers has the added advantage of being able to step up to a better model within the same price range.
Depreciation It is really true that once you drive a new car off the showroom floor, its value will drop instantly.
Cars depreciate steadily over time, but the steepest decline usually happens within the first two years of ownership.
In rare instances, some models can even lose 40 percent or more of their value in the first year.
With a used car, there is still depreciation, just a lot less rapidly.
Improved reliability with certified pre-owned programs Even though used vehicles usually don't carry the same factory warranties as new cars, the original maintenance plan on a new car is often transferable to a second owner, even when buying from a private seller.
If you buy a certified pre-owned vehicle from an authorized dealer you can also opt to purchase an extended warranty for the vehicle.
Insurance Insurance rates are significantly affected by the age of a car.
A used vehicle will in most cases be less expensive to insure than its newer counterpart.
Wider Selection You would be able to buy a better equipped or more powerful version of the vehicle model you want, or you might be able to choose from a wider selection of car brands and models by opting for a used model, for the same price as a new car.
Also, your selection of cars, and options further increase because you can buy used cars privately as well as from second hand dealers.
No Long order periods Brand new cars have to be ordered from the factory in the country of manufacture, and you may have to wait for weeks or even months for your car to be delivered.
Some luxury brands have up to a 12 month waiting period.
Individual's needs differs widely and, the decision to buy new or used all comes down to what you can afford, are you willing to take on a little risk, or do you need complete peace of mind.
Buying a used car could get you the most vehicle for your money by far, but has a little more risk involved.
Price There is no doubt that buying a used car compared to buying a new car is going to be less expensive.
New car owners often take a significant knock as brand new cars can lose a lot its value in the first year alone! Second hand buyers has the added advantage of being able to step up to a better model within the same price range.
Depreciation It is really true that once you drive a new car off the showroom floor, its value will drop instantly.
Cars depreciate steadily over time, but the steepest decline usually happens within the first two years of ownership.
In rare instances, some models can even lose 40 percent or more of their value in the first year.
With a used car, there is still depreciation, just a lot less rapidly.
Improved reliability with certified pre-owned programs Even though used vehicles usually don't carry the same factory warranties as new cars, the original maintenance plan on a new car is often transferable to a second owner, even when buying from a private seller.
If you buy a certified pre-owned vehicle from an authorized dealer you can also opt to purchase an extended warranty for the vehicle.
Insurance Insurance rates are significantly affected by the age of a car.
A used vehicle will in most cases be less expensive to insure than its newer counterpart.
Wider Selection You would be able to buy a better equipped or more powerful version of the vehicle model you want, or you might be able to choose from a wider selection of car brands and models by opting for a used model, for the same price as a new car.
Also, your selection of cars, and options further increase because you can buy used cars privately as well as from second hand dealers.
No Long order periods Brand new cars have to be ordered from the factory in the country of manufacture, and you may have to wait for weeks or even months for your car to be delivered.
Some luxury brands have up to a 12 month waiting period.
Individual's needs differs widely and, the decision to buy new or used all comes down to what you can afford, are you willing to take on a little risk, or do you need complete peace of mind.
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