5 Major Advantages of Buying Used Cars
When people picture used cars, they think of yellow clunkers sitting at the corner of the vehicles with chipped paint, rusted rims, and for-sale signs on the windshield. They may also imagine a caricature of a salesman with a plaid suit, mustache, and hat standing in the car lot, trying to sell innocent buyers a crappy vehicle at a higher cost.
However, this picture is, for the most part, inaccurate. Although there are lemons out there, most used car lots are tucked with certified cars, and vehicles, which look new. If you decide to go the used car route, as opposed to purchasing a new vehicle, you may reap many benefits, such as the following:
- Decreased Registration Fees
In many states, the rate of annual registration fees depends on the car’s value and its model. For instance, in Colorado, registration fees fall during the first few years after the vehicle is manufactured. The rate is high in the first three years, then levels off after five years.
If your state has the same rules, you can save thousands of dollars by avoiding the new car registration fees and purchasing a car at least three years old.
- Supplementary Features
Among the advantages that are usually overlooked is the fact that some used cars have many additional features. Things such as inbuilt navigational tools, sunroofs, LCD monitors, leather seats, and audio systems cost a small fortune to get when a car is fresh from the manufacturing line.
Though once it ages a little and the features supersedes by cutting edge mod cons, they will not add much to the secondhand cost.
- More Options to Choose From
Every year, manufacturers release new models, and while there are a lot of options to choose from, there is less variety of new vehicles available compared to used cars. Purchasing new cars means you will be limited to models, which have been released over the last few years.
For instance, if your heart is set on specific models from as early as 2010, then chances are, manufacturers are no longer releasing the cars, and you may not get them fresh off the line.
- Price and Depreciation
Purchasing brand new vehicles is not regarded as a great investment strategy. This is because many cars lose their value early in their lifespan, except for notable exceptions.
If you purchase new vehicles, you may expect that they will lose up to 50% of their value within the first three years after buying. Unlike new vehicles, used cars come with a lower price tag and may not depreciate with the similar fervor new ones will.
- More Pre-Ownership Options
For most buyers, having warranties to protect them against a car’s shortcoming is worth the premium they normally pay for new vehicles.
However, today, every carmaker provides a version of CPO (certified pre-owned) programs, making a secondhand vehicle purchase a much less troublesome endeavor.
Bygones are the days when secondhand vehicles meant worn-out interiors/exteriors, scratches all over, and shabby. Today, users don’t necessarily have to sacrifice overall condition and reliability so as to strike a great deal on used cars.
You may easily choose a used car, which looks new. Plus, your purchase from a reliable dealer means you will get to drive a car with higher appearance, mechanical, and detailing standards.