You might be wondering if it is worth it to buy a used vehicle. The answer depends on what you’re looking for in your next vehicle purchase, but the reality of the matter is that there are many benefits to buying a pre-owned car and some drawbacks. Let’s take a look at these benefits so you can decide which route suits you best!
You’ll Save A Lot Of Money
When buying a used car, you’re obviously going to be spending less money than if you were to buy a brand new one. In fact, you can save up to 50% on the purchase price of a used car versus a new one. So, if you’re on a tight budget, buying a used car is definitely the way to go. You can find many car dealers, like Street Smart Auto Brokers, that offer good prices on used cars. Just make sure to do your research and find a reputable dealer to buy from.
You Can Get A Warranty
Just like when you buy a new car, when you purchase a used one, you’re going to get some type of warranty with it. The length and specifics vary from dealer to dealer and model to model, but you can almost always expect at least a 30-day warranty on the engine and transmission. This is important because it will cover any engine or transmission issues that may arise in the first month or so of owning your car.
It’s also important to note that car insurance policies for used cars cost less.
You’ll Probably Get A More Recent Model
When you buy a used car, you’re not getting a car that’s ten or fifteen years old, you’re getting one that’s maybe only a year or two old. This is great because you’re getting all the benefits of a new car without the high price tag. Plus, you’ll likely have a lot of the same features as a brand new car, but you don’t have to pay a lot for them.
There Are Fewer Depreciation Costs
One of the best things about buying a used car is that it doesn’t suffer from depreciation costs as much as a new car does. In fact, a new car can lose up to 20% of its value the minute you drive it off the lot, whereas a used car can lose up to 50% of its value in the first year. So, you can get a great deal when buying a used car and not have to worry about it depreciating any time soon.
What Are Some Drawbacks?
When you buy a used car, there is no getting around it, there are some drawbacks that aren’t present with buying a new one.
When you buy a new car you know that the engine and transmission have never been used. With a used car, you can’t be 100% sure about that. Of course, you’re going to get a warranty that will cover the engine and transmission for any issues that arise in the first month or so of owning your car, but it’s not guaranteed that there won’t be any problems with it. However, if you do your research and buy from a reputable dealer, this is unlikely to happen.
Buying a used vehicle is in most cases considered a great option. There are many benefits to buying a pre-owned vehicle, such as saving money and fewer depreciation costs. Hopefully, this article has helped you decide if buying a used car is the right choice for you.