Consider A Used Car
February 11, 2016 at 2:57 PM
When purchasing a car, it can be hard to know what decisions to make first; there are so many considerations you must take into account. Surely, though, one of the first decisions you should make is whether you want to buy a used car, or a new one. Most people fantasize about a brand-new, fully loaded, shiny beast when they fantasize about what kind of car they'd like to have. This is all well and good for fantasy, but there are a number of serious benefits conferred upon those who elect to purchase a used car instead.
A Used Car Loses Less Value
Most of the depreciation that a vehicle experiences happens the moment it is driven off the dealership lot. It's not unusual for a new vehicle to immediately lose 20%, 30%, even 40% of its value as soon as it leaves the dealership. When you purchase a used car, though, you are purchasing it at something much closer to its depreciated value, and you stand to lose much less of your investment, should you decide to sell or trade in the car in the future.
A Used Car Costs Less
Because a used car has already accumulated that initial large depreciation, it costs less to begin with. Oftentimes, this means that you will spend many thousands of dollars less on your car, simply by choosing a model that has already been loved by someone else for a year or two. Those many thousands of dollars are then available to you for other important expenses.
There Are More Used Cars Than New Cars
When you purchase a new car, you are by definition limited to the makes and models that are newly available. This is a huge limitation that simply doesn't exist when you shop for a used car instead. You can choose from any make and model you like, from any year you like, all while saving money and not being artificially limited by the car manufacturers' choices for that year. The wide variety and availability of used cars give you much more choice and flexibility in terms of features, and even colours.
When You Buy Used, You Can Verify Performance
Finally, buying a used car has one more major benefit: a history. You can buy a used vehicle that has been around for three to five years and be able to do research on it: common problems, average cost of maintenance and repairs, and the like. This means you will not be acting as guinea pig for a car manufacturer's newest offer.
Buying a used car can be one of the smartest purchases that you make. You save money and have more information on your side. When you are ready to start searching for your next vehicle, ensure that you consider buying used, it may be the best decision you make all year.