Three Reasons to Buy Used Cars
Sure, it is a lot of fun trying to come up with plans on how you intend to get the best out of your car. And with pretty limitless options to choose from, shopping for a vehicle can be an equally exciting adventure considering that you will be able to learn a lot about different models. But having to decide which car to buy, and whether to buy a new or used car, can be a pretty overwhelming undertaking. To ease the stress that comes with buying a car, here are some reasons why your next vehicle should be a used car.
Used Cars Cost Less
This is an obvious reason why many people settle for used cars, so let’s get it out of the way. The price of a car is often top of the list of considerations when buying a car. With new cars being ridiculously expensive, you might consider going for a relatively older model at a bargain. The fact that you can get the features you want in a used car at a bargain, should be enough to make you settle for a used model.
Lower Insurance Rates
Most car buyers do not pay attention to how much it would cost them to insure their cars. Perceptive buyers, however, are well aware that new cars cost a lot more than used cars in terms of insurance costs. The difference in insurance cost is attributed to the fact that new vehicles have a higher book value than used ones. Buying a used car, therefore, will save you a decent amount of money over time.
From a logical point of view, selling your new car might seem favorable as far as the resale value is concerned. This, however, is different from the reality on the ground. New cars depreciate at a faster rate than used cars. If you purchase a used car and then sell it after some time, you stand to lose a lower amount than someone trying to sell a newly bought car. The idea here is that used cars depreciate, but not as fast as new cars.
In no way is this article trying to negate the benefits that come with buying a new car. But if you do not have the financial muscle to pull out a brand new car from the showroom, buying a used car can be equally rewarding.