The Benefits of Buying a Used Car vs. New Car
The Benefits of Buying a Used Car vs. New Car
Posted on April 7, 2020
Your car is your home on wheels; other than your actual house, your car will keep you warm, dry and safe as you travel to work or school which is why you need a vehicle that is practical for you. Finding the right car means you need to take into consideration how old it is, how much mileage a car has, and any foreseeable repairs that must be addressed. If you find a vehicle that is almost-new condition it can end up saving you money without having to forfeit an exceptional driving experience; here are a few of the benefits of buying a used car:
Lower Prices for Nicer Vehicles
If there were no financial limitations, everybody in the world would buy a new car; however, that isn’t the case. Older cars provide more value for car buyers than a new car would for several reasons. Every car devalues over time, whether it be a European supercar or domestic vehicle. Eventually, new cars age and inexpensive “newer” cars are available to buy for a fraction of what they once cost. For example, a brand new 2016 Honda Civic for $30,000 could be worth $15,000-$10,000 in 2019. The devaluation of very nice cars happens rapidly which means if you are patient enough to wait for “newer” models to slowly lose their value you could end up affording the car of your dreams for a reasonable price hit, rather than having to lease or take out a loan for that new car. The first few years after a vehicle is released is when it loses most of its value; purchasing a vehicle two or three years after distribution means it will devalue slower which can impact you positively if you ever decide to sell it.
Won’t Need to Pay Extra for Additional Amenities
Buying a new car from a dealer provides buyers with the choice to add additional features that can add no inherent resale value in case you ever decide to sell your car. Since buyers looking to purchase a used car have no say in the amenities that come with it, it’s not expected that a buyer should pay more for the already installed features. Such additional features that new car buyers may have implemented that provide little-to-no resale value include:
• GPS systems
• Power windows and locks
• Rear window windshield wipers & defroster
• Improved internal speakers
• Car starter
Overall Condition
New vehicles are manufactured to survive in excellent condition for over 160,000 kilometers. This means that prospective car buyers don’t have to exhaust their options while looking for an affordable car with low mileage that is in good condition. Depending on your pre-existent knowledge about cars you should have a reasonably easy time finding a car that is in fine condition both on the exterior and under the hood. Purchasing a used vehicle at a dealership should ease some of the concerns you may have about a vehicle’s condition because dealers wouldn’t sell a vehicle that is nearly undrivable or in poor condition. Also, many car manufacturers provide warranty for used vehicles so be sure to ask your dealer for more information.