Buying a used car rather than a new one can save you big bucks as it is also an extremely important way for a family on a budget to save money.
One thing for sure, all used cars aren’t created equal.
That being said, a consumer must do his homework before deciding if a used car is in good or bad shape. With that caveat, here are five of the best reasons to buy a used car.
Minimizing Equity Loss / Depreciation
Unlike the new cars that typically start depreciating the minute they are driven off the lot and lose another 10 percent in value during the first year, the right used car enables its owner to drive it and sell it with little loss in equity.
Reduced Insurance Costs
The cost of insurance for used cars are typically less as some elements ( ie., collision and theft coverages ) of car insurance can be dropped.
Reducing registration fees
As vehicles age and depreciate, the fees that states charge to register them are also lowered, accordingly.
Getting more bang for your buck
As you may not be able to afford that new luxury car you’ve lusted, purchasing a used vehicle provides you with the flexibility to stretch your budget and save as you get a much better deal than purchasing a new one.
Keeping your peace of mind
Today’s consumer is smart and is armed with all the actionable insights that enable them to minimize the risks associated with car and save money while avoiding hidden problems.
Likewise, consumers who are worried about a used cars’ potential hidden problems can also buy a quality pre-owned car, from a trusted and dealership, with all the amenities of a new-car.