5 Reasons to Buy a Used Car

used car​In 2017, total new vehicles sales surpassed $1 trillion. Which is great and all, unless you’re someone who can’t afford a new car… So what do you do then? It becomes time to take a look at a used car. In this article, you’ll find 5 reasons to start shopping for a used car.

1. Cheaper Insurance

Unlike shopping for a new car, after you spend a small fortune on the vehicle itself, you have to pay for insurance, which can be extremely high when you buy a new car. The car's value is the primary factor your insurance company takes into consideration when they determine your insurance rate. Which makes sense, the more valuable the car, the more money they might have to provide in the case of an accident. So while you may not notice the difference between your four-year-old jeep, and a brand new one, you can guarantee that your insurance company is paying attention and it will affect how much you owe for your insurance.

2. Registration Fees

So this kind of depends on location, but typically older cars don’t cost as much to register. Of course, some states will charge the same fee and it doesn’t matter what kind of car you have, but most others vary based on the age of the car, weights, etc. In addition to a registration most states charge annual taxes. These are almost always based on the age of the vehicle. If you are curious about how your state charges for registration and titling fees, you should be able to check online, or call your local DMV.

3. Depreciation

This is kind of a no brainer, but cars depreciate, or lose value over time. With a few exceptions, buying a new car to invest is a pretty bad idea. Wilde’s two cars last longer and longer, this means that vehicles lose the majority of their value over their lifespan. Sure certain models will handle depreciation a little differently than others, but most often times you can expect that a new car will lose 50% of its value within three years. All the perks that come with a new vehicle, don’t measure up or balance out the cost of depreciation.

4. Certified Pre-Owned

For the most part, shoppers don’t have a problem paying for a warranty is that auto dealers offer on new cars. With that being said, all car makers offer some version of a certified pre-owned program. This is meant to give buyers peace of mind that the car they’re buying doesn’t have any significant issues. A certified pre-owned program will vary based on who’s offering it, and there’s a big difference between manufacturer certified in dealership certified. Typically the manufacturer will offer a more complete package. For example, all manufacturer certified cars will have some level of warranty on them, it’s just that the mileage in the amount of time that’s covered may vary. I have a warranty is important to you, then you should have no problem shopping for a certified pre-owned used car.

5. Variety

One of the greatest things about the used car market is what is available. Whether you’re shopping for something generic, like a Honda Civic, or you’re looking for the Batmobile, used car dealerships and even private owners most likely will have something for you. As of now the current statistic is that there are approximately 350 models available for those shopping for a new car, but that’s just a sliver in comparison to the number available on the used car market. For example, if you’re looking for a small pick up truck, they don’t really get made any more today. However, if you look at a used car, say a Ford Ranger..., you may just find what you’re looking for. If you have a particular vehicle in mind, and a price range, going with a new vehicle might not get you to where you want to go; literally. Take a look at used car near you, and take home your new vehicle today!

 

Categories: Pre-Owned Inventory
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