Whether you’re after an upgrade or a reliable model that will accommodate an extra member of the family or you’re buying a car for the first time, it’s definitely worth considering purchasing a used vehicle instead of a new one. Forget the ‘new car smell’ and think about the money that can be saved by going down the used vehicle route. There are many advantages attached to buying a used car, and below are detailed just a few of them.
Photo credit: Pixelnaiad
Used Vehicles Cost Less to Buy
One of the biggest advantages of buying a used car is that it is the perfect budget-friendly option. If you buy used, you’ll be able to afford a much more expensive model that would be completely out of your price range in a showroom of brand new cars. A used vehicle is often the best alternative for families who are strapped for cash but need a car that can accommodate new babies or older children. The reason that used cars are so much cheaper is not because they are generally in poor condition, but that the greatest decline in a car’s value occurs in the first three years of ownership. A car begins to depreciate as soon as it is driven away from the dealer’s lot, and if you buy a car that is between three and five years old, you’re guaranteed to receive a high quality vehicle in near-perfect condition, but for a fraction of the price. After the first three years, depreciation slows massively so you don’t have to worry about used vehicle declining in value unless it is damaged or involved in an accident.
Used Cars are Cheaper to Insure
Another advantage of buying a used vehicle is that your insurance premium will be significantly reduced. It doesn’t matter which make or model of car you’re interested in, you can rest assured that your insurance quote will be cheaper than if you chose the brand new version. The money you save from the initial price of the vehicle and from your insurance can be used to equip your used car with any additional features that you and your family might need.
To find out more about buying a used vehicle, contact a reputable dealership like Exchange and Mart.
*pls see my disclosure policy
