Buying a new car is not in any way a bad idea, but used cars are not entirely bad either. Rather than spending a whole lot of bucks on a new car, why not save money and get the same value in an old car, as you would get in a new car, bearing in mind that cost of purchase is not the only attraction that should endear you to a used car. Here are 7 good reasons why we at Patriot Autos think it’s smart to buy a used car:
- Reduce the risk of depreciation: research has shown that the value of new cars typically reduces by 20% once they leave the parking lot. If you buy the right used car (one-year old used car, for instance), you can sell it off without the risk of losing so much in equity.
- An unbeatable variety: if you are looking for a particular model of car which dates a few years back, it might be hard to find in the new car market because of the discontinuation of production by car manufacturers. There are increasing numbers of new models in the new car market, but your favorite old model may just belong to the used car market.
- Reduce insurance costs: a new car would incur more insurance costs. The higher the value of a car, the more an insurance company has to pay in case of any form of damage.
- Reduced cost of registration: just as it is with insurance fees, the more expensive your car is the more states charge for its registration.
- Secure your peace of mind by buying certified pre-owned cars: manufacturer-certified pre-owned cars give a high level of protection with warranty according to time and mileage. You will also get the options of roadside assistance or even rental whenever your car has to spend time in the shop.
- Used cars have data: used cars are usually old model cars which means the buyer has all the necessary information about the car’s strengths and weaknesses.
- Get more value for your money: by purchasing a used car, you get to capitalize on the depreciation of the second-hand value of new cars. While your budget may get you the new version of your desired model, it will certainly get you a used version of your chosen model. It is a win-win for you at the end-you save cost, but get what you want still.