That shiny new car has caught your attention, and you are considering going for it. They are always tempting if you are looking to replace your old car or add it to your garage. But do you need a new car? Of course, it has all the attractive features, and financing is often more straightforward, but what other options do you have?
No matter how you look at it, there are many reasons why buying a used car is a smart decision for you to take. Purchasing a used car can save you lots of cash and give a similar satisfaction and fulfillment as a new car. In this post, we would highlight some reasons why buying a used car is a smart choice for you to make.
New Cars Depreciate Immediately
In case you’re attempting to decide whether to purchase new or used cars, you should know that the second you take your new car off the lot, it goes down in value. Customers whine about how rapidly a new car devalues—when they drive it off the lot. The estimation of a new vehicle can drop 11% on the drive home. This implies that your $20,000 car is worth just $17,800 once it leaves the lot. The vehicle proceeds with depreciation as weeks, months, and years pass. With used cars, the heft of the depreciation has already occurred. A few vehicles do hold their value over others, and new cars do last longer today than they used to. Be that as it may, new cars can lose as much as 30% of their value in one year. Additionally, consider that you’ve, in all likelihood, borrowed money to purchase that new car, and you’re now losing as much as 30% of its real worth making installments on it, including interest. Regardless of how you see it, purchasing a new car can’t qualify as a wise venture when it loses such a lot of cash so rapidly.
Certified And Meticulously Inspected
Certified Pre-Owned cars guarantee used car purchasers they’re getting a quality, wholly examined car that’s also a bargain. Certified Pre-Owned cars have been reviewed, renovated, and certified by the producer or other certifying authority, guaranteeing the vehicle is of high quality. They regularly have a service agreement, special financing and other benefits. New cars basically hold the affirmation that they are new.
Cut Your Insurance Costs
At the point when you’re deciding to choose to purchase a new or used car, car insurance cost is another factor to consider. Usually the more worth a car has, the more the insurance firm needs to pay if the vehicle is damaged. A used car will cost less to replace than a brand new car. Depreciation won’t mean a lot to an insurance firm if the new vehicle is destroyed around the same time it was purchased. Normally, the insurance firm will pass this potential expense onto you, the driver. In any case, a model that has just depreciated and is three years of age won’t cost as much to replace, and this way, it won’t cost as much for you to insure.
Other reasons include:
- Reduced registration fees
- Getting more value for your money
- Detailed data on car history are available
- Lower customization cost