5 Pros of buying a Used Car
Whenever a new car hits the market, people get too excited; especially those who have been planning to buy a car for a long time. However, most people give up the idea of seeing the price tag. Individuals are also under the impression that only a new car is the best and a used car will bring down their status. But the times have greatly changed. The status symbol can easily be elevated with a used car without spending a lot of money. A pre-owned vehicle offers many advantages to the buyer and is a great way of making your dream of owning a car comes true. Whether you are looking for a regular vehicle or a luxury one, used is something that you must seriously consider.
Buy At A Price That Fits Your Budget
Many people have dreams of buying a luxury car. But the dream is often crushed by the high prices of the vehicle that can be daunting to afford. However, this doesn’t mean that you should let go of your wants. The best way to own a luxury car or a new model without breaking the bank is by buying a used one. The vehicle will come intact with all the amenities and heart capturing looks but at a much lesser price. A car’s value depreciates when it comes on the road, helping you to bring it home at a lower price as compared to its original cost.
No-Fuss Over Depreciation Rates
If you have been complaining about how a new car depreciates quickly and at a greater percentage, with a used car, this will be not be something that you have to worry yourself with. The used car that you are buying will have already lost most on the deprecation aspect. The value of the car goes down by 11% when driven home from the showroom. It keeps depreciating as weeks, months and years pass by. So, by the time you will buy it, depreciation will have already occurred.
Lower Insurance Premiums, Happier You!
Whether you are buying a new car or a used one, you have to get it insured. But if you compare the premium rates between a new vehicle and an old one, the difference is quite considerable. The first owner must have already paid hefty premiums for the car while it was new. Now that you are buying it, you can easily pay the lesser premiums because the car’s IDV (Insured Declared Value) is lesser than what it was before. The more money-saving advantage here!
Warranty, For A Hassle-Free Ownership
Many authorized dealerships sell used cars. So, when you buy one from them you get a warranty on the vehicle and also repairs. If the car still has its original warranty from the factory, you are in a win-win situation. At first, the vehicle issues will be covered by the company and then later on by the dealership for the period mentioned. You drive without any stress on the mind.
Save On The Sales Tax
One thing that most people are unaware of is the fact that you have to pay sales tax when buying a new car but there is no such cost when you buy a used one. This is yet another way of saving money and having a nice car to flash around.