If it’s about time you invest in a car, you will naturally want to make the most beneficial choice. You can gain many benefits if you choose to purchase a used car instead of a new one.
These are seven of those benefits of buying a used car vs a new car:
1. The insurance costs are lower.
The lower insurance rates are one of the top reasons people go for used cars instead of brand-new vehicles.
As a used vehicle owner, you will most likely have the option to purchase liability insurance instead of having to get complete comprehensive and collision protection. Thus, you can save hundreds of dollars a year by selecting an older car rather than a newer one.
2. There’s more room to haggle.
There’s always more room to negotiate and haggle when you visit a dealership to purchase an older car. The dealership may be having trouble getting rid of some inventory and might be willing to come down on the price because of it.
3. There’s no break-in period.
Often, new car owners have to baby their vehicles and be extra careful with them. You don’t have to worry about that if you purchase a used car. The previous owner has already broken it in, and all you need to do is drive it without any worries.
4. The extreme depreciation has passed.
If you invest in an older car, you’ll be long past the massive depreciation dip that occurs within the first five years, and the depreciation will happen at a much slower pace.
5. You’ll have a warranty.
Used cars generally come with decent warranties on them, and they don’t cost extra like some of the ones on newer vehicles.
The dealers’ warranty will likely cover your engine components, transmission, and other sensitive mechanical parts. You can refer to where you purchased the car for assistance if anything happens.
6. Registration costs are lower.
The older a vehicle is, the less money the owner has to pay to register it. That’s another good reason to consider investing in an older car.
7. You’ll have access to spare parts.
Why is buying used better than buying new? One good reason is that you won’t have to deal with a parts shortage. The parts will be available to you, and they will be available through aftermarket companies, salvage yards, and numerous online outlets.
It’s much more challenging to find the parts you need for a new car than it is for one that’s been on the market for a while. Parts for older cars are much cheaper than parts for newer cars as well. That’s another reason to grab yourself a used car this time around.
Now you know seven reasons why buying a used car is a great idea.
Is it better to buy used car than new? In many situations, it is. Visit a used car dealership if you’re currently in the market for a different vehicle and speak to some industry pros about the vehicles most suitable for your needs.