4 smart reasons to buy a used car

Whether you’re a first-time buyer of a car or a seasoned veteran, there’s always the difficult decision to decide whether to opt for a new or used vehicle for your next purchase. New cars have the latest style, technical features, low interest rates and the popular smell of new cars, but are they really the best choice for you and your budget? We will review some used car wisdom and give you 4 good reasons to drive your next used car.

1. They are less expensive

Let’s get the obvious out of the way – in most cases, you’ll save money to buy your car used, and probably quite a bit of money. Once you buy a brand new car and take it around the block, it is no longer new and this value drops quickly. According to Consumer Reports, your new car will be worth 54% of the original purchase on average after just 3 years – that hurts!

The average cost of a used car is predictably well below that of a new car model, and that’s not the only room for savings. Logically, you pay less tax on a cheaper car and it’s often more affordable to insure them as well. However, you should pay attention to the mileage of the vehicle, as the distance traveled and the remaining warranty are likely to affect your maintenance costs.

2. Financing rates & conditions

With low manufacturer financing rates and longer terms, dealers can show you some very attractive monthly payments for a new car, but don’t forget to do the math. Even a lower rate can really add up over a funding term of 7 or 8 years, and the growth of certified used programs (CPO) has really narrowed the gap. Not only do banks offer aggressively low used car prices, but certified used cars also offer even lower prices as well as the added bonus of additional warranty coverage and extensive vehicle inspections. The new car advantage is really starting to dwindle with the exceptional used car financing options.

3. Vehicle history reports

Maybe your hesitation when buying a used car is that you just don’t know where it was or what you’re getting, and that’s understandable, but with transparent reporting with tools like CarProof, you’ll get a very good idea of what you’re dealing with. Vehicle history reports may not capture everything, but you usually get some important information like

The number of previous owners

Accident or damage history with details

Previous registration status ( Personal, Leasing, Taxi, Rental etc.. )

Mileage validation and maintenance records

4. Reliability

If you think it might be a risk to buy a used car because it won’t take long, then you should do some research. According to several studies, the average vehicle on the road today is over 10 years old and these numbers continue to rise as automakers continue to improve their product range. Modern cars, trucks, and SUVs simply have a longer lifespan than they used to, and that’s great news if you’re in the market for a used vehicle.

There are a lot of things you can like about the prospect of buying a brand new car that no one else has driven before, but there’s no doubt that used vehicles offer the better value for money. Now that you’ve read our 4 smart reasons to buy a used car, what will be your next purchase?

how can i get a low interest rate on a car
#smart #reasons #buy #car

wendy encarnacion

Leave a Comment

Your email address will not be published. Required fields are marked *