Are you in the market for a new vehicle?
When buying a new car, there’s a lot that you need to consider- the make and model, the color, and of course, whether you’re going to buy new or used.
For some people, the idea of buying a used car doesn’t even cross their minds. After all, why would you want to buy a car that someone else has already driven when you can buy a shiny new vehicle?
Well, the truth is, there are many benefits that come with buying a used car.
What are they?
Check out this guide to learn about the top benefits of buying a used car.
- Depreciation
Let’s get one thing straight- cars depreciate in value. In other words, as time goes on, your car is worth less and less money. This is different from houses, which appreciate in value, meaning they’re worth more money as time passes.
Therefore, buying a new car as an investment is a bad idea. And while some car models handle depreciation better than others, for the most part, you can expect your car to lose 30-50 percent of its value within three years if you buy it new.
While this is bad news for new car buyers, this is excellent news for those who buy used.
- Certified and Thoroughly Inspected
The biggest hesitation people have with buying a used vehicle is the concern that they’ll get tricked into buying a lemon that only lasts a year or two.
While this is a concern if you buy your car from a random private seller from Craigslist, this isn’t a concern if you’re buying from a dealership that’s marked the car as certified pre-owned.
When a car is certified pre-owned, it ensures the buyer that they’re getting a high-quality vehicle that won’t breakdown on them in a few years.
Certified pre-owned vehicles have been refurbished, inspected, and certified by the manufacturer or other certifying authority, therefore assuring that the vehicle is high-quality.
New cars, on the other hand, simply hold the assurance that they’re new and nothing more.
- Lower Insurance Costs
Nobody likes forking over money for car insurance each month, but as a vehicle owner, it’s something you have to do.
But, even though paying car insurance can’t be avoided, paying high prices for your car insurance can.
One of the best ways to pay a lower car insurance rate is to buy a used vehicle instead of a new one. When insurance companies determine your rate, the first thing they look at is the value of your car. Which makes sense, seeing as the more valuable your car is, the more they’ll have to shell out in the event of a wreck.
So, if you want to pay lower car insurance rates, opt for a used vehicle over a new one.
- Lower Registration Fees
In addition to lower insurance costs, you can also expect to pay lower registration fees when buying a used vehicle.
While some states charge the same fee no matter what type of vehicle you’re buying, many states offer lower registration fees for used vehicles.
For example, Montana has structured registration fees based on how old the car is. In other words, the older your vehicle is, the less you’ll pay in registration fees.
- Vehicle History Reports
If you’re worried about buying a lemon, the car’s vehicle history report will help to put your mind at ease.
With vehicle history reports, you get accurate and up-to-date data about the state of your car. This means that anytime your car changes hands, is repaired, or has an accident, the vehicle history report will reflect this change.
- Warranties
Many people worry about warranties when buying used vehicles.
But, you shouldn’t, because many times, used cars still come with part of their original warranty. And, if they don’t, you often have the option to add a new warranty.
If you buy a used car, you can utilize the savings by choosing a warranty that covers everything until 100,000 miles or more.
Benefits of Buying a Used Car: Are You Ready to Buy Used?
As you can see, the benefits of buying a used car are quite extensive.
If you have any questions about buying a used car, please comment below. And, be sure to check out our used car inventory.
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