5 Advantages of Buying a Used Car Instead of a New One

The process of buying a car is filled with many important decisions. You have to choose the make, model, and the right financing and insurance before you find the perfect car for you. There can be times when a slick, new car catches your eye, or maybe a television commercial draws you into a dealership to see the newly released vehicle that they have. However, you also need to ask yourself if a new car is right for you.

Yes, brand new cars have all the new incredible features and an enticing financing option. But you also have other good choices, and one of those is buying a used car. Purchasing a pre-owned car over a new one is a great option for a lot of drivers. Even though it might feel like the lesser between buying a new one, there are many benefits that you can get from it, which are often overlooked by those who are convinced that buying a brand-new car is always the best choice.

Did you know that purchasing a used car rather than a new one can help you save big amounts in many ways? A pre-owned car costs less based on sticker price alone. Aside from that, you will also spend much less compared to driving a new car in terms of insurance, fees, and vehicle depreciation. There are also plenty of places to look for if you want to buy a used car, just like different auto auctions. This is a great option if you are looking for used cars for sale. If you are looking into purchasing a car soon but can’t decide yet whether a used car is worth it, we’re here to help you. In this article, we are giving you the five advantages of buying a used car instead of a new one.

1. Used cars come at a lower price and less depreciation

When it comes to buying a car, finding one that fits your budget can be challenging, even with financing options such as leases and loans. Therefore, if your budget is your concern, looking towards used cars can be a great option. In general, used cars will cost less compared to the same make and model that is brand new.

In addition to that, buying a used car can help in avoiding the initial depreciation hit that that car takes when you drive it off the lot. After a year of owning a brand-new car, it can lose up to 30% of its initial value. Then, it will continue to depreciate with time, but less quickly than during the first two years of owning it.

2. When you purchase a used car, there are no extra fees for extra features

You will not get the same level of customization when you buy a used car as you would in a brand-new car. Whether they are functional or cosmetic, new cars usually have additional features that you need to pay for. Even though most of them are optional, some will come with a new car whether you asked for them or not. You may not get all the features that you want with a used car, but it will save you from paying for the extra features that you don’t really need or that you did not precisely ask for.

3. There are more varieties to choose from when it comes to buying a used car

 

Every year, lots of car models are being released. Even though there are many brand-new cars to choose from, they are far less than there are used cars. When you decide to buy a new car, your options will be limited to models that have been released recently or over the past couple of years.

For instance, if you want a specific model of a car, even from as current as of the early 2010s, the chances are that the car manufacturer is no longer producing it, making it difficult to get fresh off the line. But when you choose to buy a used car, it will enable you to browse a wider range of vehicle models, including the older models that you are looking for.

4. It is easy to research the long-term performance of a used car

If one of your worries about buying a used car is its performance, you really don’t have to worry that much about it. Why? It’s because one advantage of buying a used car is the ability to check its history, along with the general information about it.

The VIN or vehicle identification number of a car can provide you with a detailed report about its history, including the mileage or if it has ever been declared a total loss by an insurance company. You can use the VIN decoder to pull information from driving databases, legal records, and more. With this, you can also know if the car you are eyeing to buy has been involved in any accidents or if there are any thefts and other major issues associated with it.

You can find lots of reviews on new cars. However, the experience of the everyday and long-term drivers is only available for cars that have been released for a few years. With this, purchasing a used car will let you view its past and how well it can perform in the coming years.

5. Used cars can have lower insurance costs

 

The cost of car insurance depends on your age, driving history, credit score, mileage, and location. Usually, just as the car will cost less, the insurance for a used vehicle will also be lower compared to a new one. One of the key factors in knowing the cost of car insurance is its value. Since a used car has less value than a new one, its cost of insurance should also be less.

When it comes to recommended coverage, if your car is older, you can consider liability only if it is allowed in your state. It is a better choice than adding comprehensive and collision coverage if your car is new. However, keep in mind that insurance rates are not always consistent. Therefore, to be able to save money, try to compare rates and research your expected car insurance cost before you buy a vehicle.

These are some of the advantages that you can get from buying a used car instead of a new one. It is a great way to drive a nice car without spending as much as you would on a brand-new one. There will be less vehicle devaluation and inexpensive insurance while still having peace of mind that your car is in good condition.