The Advantages of Buying A Used Car

The Advantages of Buying A Used Car


Buying a car is a big decision. That is why it is crucial that you have thoroughly weighed all your options before making your final decision. You have a choice between buying a new or used car. Many people harbor undeserved biases toward used cars. We picture weathered exteriors, torn seats, and scratched paint jobs. Used cars have come a long way compared to what they used to be. Oftentimes, people aren’t even able to tell the difference between used and new cars. Laid out below are some of the key advantages of buying used instead of new.


Low Cost


The biggest advantage of a used car is, of course, the price. Most used cars will cost about half of the original cost. That is a serious chunk of savings. The money you save in buying a used car can then be used to buy another used car after a few years. This way, you have created your own two for the price of one deal.


Low Taxes, Insurance, Sales Tax, and More


Most of the additional costs associated with buying a car, like taxes, insurance, sales tax, registration fees, etc. are calculated based on the current value of the vehicle. This means that you can save significantly on these costs as well. In many cases, if you buy the vehicle directly from the previous owner, you may not have to pay any sales tax on it.


No Additional Costs


Most dealerships will try to tempt customers with small but pricey add-ons like an anti-rust coating or a protective film. With used cars, you don’t have to bother with this unnecessary razzle-dazzle. You can look for specific features that you want and go for only what you need. The previous owner would have already paid for these add-ons, meaning you get them for free.


Current Condition


Modern vehicles are built to last a long time. Most of them will run at least 100,000 miles. Many owners will sell their cars around 6-7 years after buying it. It is unlikely that the vehicle would have run 100,000 miles within this time. So, you can expect most used cars to be in good condition. The engine will be in perfect working order and the car will be almost as good as new. Your dealer should have refurbished and serviced the vehicle before putting it up for sale.


Depreciation Already Adjusted


Cars depreciate at a decreasing rate. This means, the depreciation is the highest in the first few years and will go down as time passes. So, the cost of a new car will already adjust for most of the depreciation. This also means that when you are ready to sell the car, you will get a price closer to what you originally paid for it, while the first owner of the vehicle would have received only about half of what they paid for the car when it was new.


Extended Warranty


As stated above, many people sell their cars after 6-7 years. Parts of the car may still be under warranty at this time. Even if they are not, you can purchase an extended warranty from the manufacturer with the amount you save on the cost of the car. A 100,000 mile all included warranty will ensure that you get qualified, trained mechanics to repair your vehicle up to 100,000 miles.


Big decisions should be made only after you have done proper research. The same goes for buying a car. Whether you decide on a new or used car, you should research it thoroughly before making the decision. These advantages of used cars listed above should tip the scales in favor of used over new for all buyers on a budget.