New vs Used: Top Benefits of Buying a Used Car
Americans drive more than three trillion miles each year. And no matter how much you care for your car, you’ll eventually need to buy a newer model to get you where you need to go.
But for many people, the thought of paying thousands of dollars for a new car is daunting if not outright impossible.
That doesn’t mean you need to keep driving the same beater you’ve had since high school. It just means you need to expand your horizons. And pre-owned cars are the perfect way to do it.
Here are a few surprising benefits of buying a used car you may not have even thought of.
Lower Purchase Price
The average new car costs more than $34,000. That’s more than some people make in an entire year working full-time. And though you can always finance your new car, you’ll be stuck looking at entry-level models without those nice touches you dream of.
Used cars are always cheaper than their new counterparts. This means you’ll be able to get a nicer car for the same amount (or less) that you’d spend on a new bottom-of-the-line ride.
When you get more bang for your buck, you’ll be happier in your car for years to come.
Less Depreciation Off the Lot
As soon as you drive a new car off the sales lot, it starts to depreciate in value. And new cars depreciate quickly.
After a few years, your ride that you paid full price for is worth half of what you paid for it. This is true even if you maintain it perfectly.
Used cars take the sting out of the depreciation. They’ll continue to lose value as they age, but you’ll take less of a hit. The initial high loss of value already happened before you bought the car.
Remember, you shouldn’t buy a car as an investment. They lose value too quickly. But you can minimize your potential loss by buying used!
Cheaper Registration and Insurance Fees
When you register and insure a new car, the government bases the cost on the purchase price of the car itself. This means you could pay hundreds or even thousands of dollars just to license and register your car with the state.
Since used cars cost less up front, you’ll end up paying less to register with the state. And this pattern continues the longer you own the car. The older it gets, the lower your registration fees will be.
The same holds true for car insurance. Newer vehicles cost more to replace if they’re totaled in an accident. This means the insurance company charges more to cover their potential loss if you file a claim.
Older used cars cost less to repair or replace. This can save you hundreds on auto insurance costs each year. And your premiums will likely go down the longer you own your car.
You’ll Know the Car’s History
Part of the appeal of buying a new car is knowing exactly what you’re getting: a blank slate. You’re in charge of the maintenance and upkeep. And any major repairs that happen are ones you’ll know about.
Used cars from private sellers often are a bit of a mystery. Owners don’t always keep service records and may not disclose any accidents or bodywork the car has.
When you buy from a dealer, you’ll know that the car was thoroughly inspected, repaired, and receive a vehicle history report to disclose any major accidents or issues.
The car may have more miles on the engine, but you’ll have the same peace of mind you’d get from buying a brand new car.
Fewer Recalls and Repairs
It’s normal for new cars to have unexpected repairs and manufacturer recalls. Their systems haven’t had a chance to prove themselves under daily use. And as owners break the cars in, issues will pop up.
With a used car, you’ll have to worry about fewer manufacturer recalls and repairs. Most of them are already taken care of. And the dealership checks each car over before they put it on the lot.
This not only saves you money in surprise repair bills, but it also saves you time. Instead of waiting weeks for recalled parts to get fixed, you’ll be able to enjoy driving your car safely.
You Have More Choices
When you’re shopping for a new car, you have to travel to multiple dealerships to see different makes and models in your price range. This is time-consuming and frustrating, especially when you’re shopping on your days off.
Used car dealerships have multiple makes, models, and colors to choose from. You’ll be able to see more in less time and can test drive different cars to get a better feel for what you want. And you’ll be able to do it all without leaving the dealership.
Having more choices at one location means you’ll find your dream car faster and avoid the frustration of dealership hopping.
Loans Are Easier to Qualify For
Auto loans are the perfect way to get into the car you want without paying cash up front. But if you’ve never bought a car or have a lower credit score, getting a loan for a new car can be tough.
This is because the new car’s price is high. For most borrowers, you’ll be stuck with high-interest rates and higher monthly payments.
When you’re buying a used car, the loan is easier to qualify for. The price is low enough to make payments affordable. And since lenders are loaning less money for the purchase, you’ll pay less in interest payments and monthly premiums.
And bad credit won’t keep you from getting the loan you deserve!
See the Benefits of Buying a Used Car for Yourself
The best way to see the benefits of buying a used car is to head to your local dealership and start looking around. At Legend Auto Sales, we have the right ride for your style and budget.
Stop by our dealership or contact us today to schedule a test drive.
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