Even though buying a brand new vehicle will come with a sense of pride and achievement, you might not be getting the best deal, and if your needing car finance with bad credit then a cheaper option will be likely best for you.
A new car will immediately start depreciating in value the moment you drive away from the showroom. Most people are concerned about mileage when thinking about buying used cars. It should be noted that you can still get used cars with very low mileage. A car that has been on the road for under two years will not have passed the 30k mile mark. This is considered to be very reasonable since it is as good as new. Here are some of the reasons why you should consider buying a used car instead of a new one.
Saves You Money
According to statistics, used car prices are usually 50% lower than new ones. You stand to save a lot of money when you opt for a used car instead of going for a new one. Even if you’re taking out a loan, it will be a lot easier to pay off a used car since it will be affordable and not have a strain on your monthly finances.
Depreciation Has Already Occurred
When you’re buying a used car, the bulk of the depreciation would have already occurred. There are so many complaints from consumers about how vehicles quickly depreciate in value after they’ve been bought. There are tools online which you can use to check the depreciation value of a vehicle before you decide to buy it.
Reduced Registration Fees
For most states, the rate of registration fees will be dependent on the car’s value. That means you stand to pay more if it is a new car. In the majority of the states, the value will fall down dramatically a couple of years after the car has been manufactured. This will obviously work to your advantage if you’re buying a used car.
Cheaper Features on Used Cars
You’re likely to pay more on useless extras when buying a new car. Depending on the brand, you might be charged a couple thousand dollars just because of the stereo system. When you buy used, you will never be charged for extras since you’re buying the vehicle as it is. For a used car, you might look for some specific features that you’d want in a car. Since there is an abundance of options, you’re likely to get just that.
Crazy Dealership Fee
There are always some additional costs when buying a new vehicle. You should expect to pay more than the sticker price. There are dealers that might charge as much as $500 in fees for the purchase of a new vehicle. When you buy a used car, you don’t have to cave into the demands of the dealer. You’re in a better position with the negotiation process.
Condition
Most modern cars are built to last for at least 100,000 miles. There are cars that could even clock 500,000 miles if they’re well maintained. This means you won’t be missing a lot when it comes to the condition of the car even if you’re buying second-hand. There are so many deals for used cars that are precinct conditions and it can be hard to differentiate them from new ones. If you’re savvy with cars, it won’t be that much of a challenge to get a vehicle that is almost “new” provided that you’re willing to put in the work.
Warranties
It is still possible to get a warranty even if you’re buying a used car. There is also the option of creating a new warranty for a used car that you’ve just purchased. If it is an extended warranty, you will be working with factory-trained technicians whenever there is a problem with the vehicle.
Variety
According to statistics, there are currently over 350 models to choose from if you’re buying a used car. You can’t find such a variety if you’re buying a new car. You only get to work with what is currently available in the market. If you love classic vehicles, there is a market for them and you’re likely to get cars with less than 10k miles on them. You might be looking for something unique and different and buying used will give you a huge selection to choose from. You can check out CT auto dealers if you’re looking for specific models that are no longer being produced.
