The desire of wanting to do more is one of the reasons why more and more people are now buying cars. This investment allows individuals to go from one location to another, without depending on the schedule of public transportation.
While you can always buy a brand new car, it’s best if you also consider buying a used one. Buying a used car in Syracuse or your city can provide benefits that you can’t experience from a brand new car.
According to a survey, 69% of consumers regret buying a car because the price of this purchase was too expensive and the car they bought didn’t meet their expectations. For you to avoid remorse on your next car purchase, learn more about used cars.
You’ll be surprised how buying one can actually provide the following benefits:
Buying a car will require money from your pocket. Regardless if you’re buying one from a physical dealership or through a website, expect that you’ll have to spend at least $2,500 for a car. Aside from the price, you still need to pay for insurance, taxes, and dealer fees, among others. If you have a shoestring budget, buying a used car is a better option for you.
The price difference between a brand new and used car is one of the most obvious reasons why more and more people are choosing to buy second hand. Generally, used cars cost about half the price of a brand new car.
The affordability of used cars allows you to pay the product with your hard-earned money. Also, if you’re going to take out loans to afford the purchase, it’ll be easy for you to pay the debt and save yourself from paying expensive interest rates.
- Depreciation Benefits
The value of a brand new car will depreciate the moment you drive it off the dealership. This means that as you start to use your car, it won’t have the same value as what you’ve paid for it. The value of your car can depreciate to 11% after you use it for the first time. Thus, the longer you use your car, the faster its value depreciates. A brand new car will lose 45% of value during its first three years, and this rate drops to 25% after three years.
When you buy a used car, you don’t have to worry about experiencing any of these. More often than not, a used car has been driven for at least three years, which means that most of its depreciation has already occured.
If you exert time and effort in looking for a used car in tiptop condition, you can upgrade it and then resell for profit in the future. There are cases when a properly-maintained used car can even gain value in the long run!
- Lesser Fees
As mentioned, buying a car will not only require you to pay the price of the product. Before you can enjoy a brand new car, you also have to pay for dealer preparation, shipping fees, and destination charges, among others. If you’re going to buy from a dealership outside of your city, you might even have to pay for more expensive fees.
Aside from having a lower price, buying a used car will also save you money because you don’t have to pay for any of these fees. More often than not, the first owner of the car already covered these fees, and there’s no need for you to pay again. This means more savings for you!
Car manufacturers will regularly release new car models. The newer the model is, the more advanced its features usually are. But, before you can enjoy these features, you need to provide a hefty amount of money since new car models usually cost an arm and a leg.
You’ll only have limited options when you choose to buy a brand new car because car manufacturers will only showcase their newest car models. This means that you’ll only get to choose car models that were released in the same year of your purchase. If you’re going to buy a car this year, a family SUV released three years ago won’t be included in your options.
This isn’t the same story when buying used cars. Buying used cars can provide unlimited options when it comes to the years, makes and models of a car. This variety can be helpful, especially if you’re planning to buy an older car model that’s no longer produced and sold by the car manufacturer.
A used car can provide a lot of benefits. Just don’t impulsively buy one, though. Doing so will usually result in remorse later on. Once this happens, the money you’ve spent in buying the car will be useless.
Steer away from this direction by asking the help of a mechanic to check the condition of the used car you’re eyeing to buy. It’ll be easy for them to determine if a used car has any underlying issues.