Car buyers routinely list the process of buying a car as a painful shopping experience. For various reasons, the process sends shivers up the backbone of many consumers, especially if they are purchasing a new vehicle.
For starters, you will need to make a few preliminary choices, such as the car type, brand, and features that suit your needs. You will need to explore numerous search engines and look for vehicles that fit your budget and criteria. The research can be difficult and may take hours or even days without feeling any closer to the right car. After going through all the efforts of researching comes the lengthy paperwork, registration, and insurance processes.
If you want to eliminate or at least mitigate the hassle, you may better go for a used vehicle instead. Purchasing a used car eliminates the headache of filtering your searches for budget and other requirements. Sure, a new vehicle comes with all the bells and whistles, but a used vehicle has its own perks, which we will cover in this post.
To help you make an informed decision, we have listed a few reasons below to buy a used car.
1. Used cars are cheaper:
If saving money is your primary goal, buying a used vehicle instead of a new one can save you big bucks in more than one way. It is apparent when you compare the prices of new cars with used ones. This is probably the reason why the sales of used light vehicles in the United States came to around 40 million in 2018.
If you could buy a used BMW 3 series for the same price as a new small entry-level Hyundai car, you will realize the luxury that you are ignoring by avoiding used vehicles. The budget that can afford you an entry-level car can also provide a used car that is significantly more fancy and better equipped.
2. Drive tension-free:
A major benefit of a used car is the feeling of driving without worrying about getting the first dent or scratch. You can even take a used car for long drives as soon as you buy it. Car buyers often avoid taking a new vehicle on a long journey before the first service or inspection. However, they do not hesitate to take a used car through narrow lanes and congested areas.
3. Slower depreciation:
A used car undergoes depreciation, but it has the upper hand when compared to a new vehicle. Used cars depreciate at a slower rate because devaluation is at its highest during the first three years of purchase. When you buy a used car, you purchase it at a price that has experienced significant depreciation. Since depreciation is slower, you actually get the bang for your bucks.
4. Lower Insurance Premiums:
The primary factor that counts when determining insurance rates is the car’s current value. Since used cars have already undergone through depreciation, they tend to cost much less to insure as compared to a vehicle purchased new. It is understandable that a used Ford will have lower insurance premiums than a new one. You might fail to notice the difference between the two vehicles, but your insurance company will surely have an eye for it.
5. Lower Registration Fees:
The annual registration fee of a car primary depends on the car’s value and the model year. The regulations for vehicle registration may differ depending on where you live, but the rates are generally the highest for the first three years of the new vehicle. Some states charge the same registration fee old and new vehicles alike, while others structure the fee based on a vehicle’s age, weight, or power. Some states also charge yearly taxes, but they reduced once a car is 2-3 years old.
The registration fees, along with the soaring taxes, make a new car an expensive purchase. If you are stuck between buying a new and used car, consider purchasing a vehicle at least three years old, as it will save you hundreds of dollars by avoiding the additional charges.
6. Detailed Vehicle History Reports:
The process of buying and selling used vehicles has evolved with the evolution of the auto industry. The availability of vehicle history reports takes out all the risk from the purchase of used cars. With the emergence of services like AutoCheck and CarFax, you do not need to rely merely on the verbal assurance of a salesman, a dealer, or an individual seller.
Technology has empowered buyers to verify the vehicle data and check if the vehicle has an accident or any major repair. Additionally, you can also get the option of a post-purchase warranty. An extended warranty on a used car will provide speedy repair service by factory trained technicians.
Final Thoughts:
With the assurance of extended warranty and certification, a used car now provides you almost all the benefits that you would expect when buying a new one. As the car had already undergone major depreciation, selling it in the future won’t dent your wallet much. Especially for the first-timers, it is better to avoid the search filters and go for a used car that can conveniently cater to almost all types of s.
Author Bio:
About Michelle Joe: Michelle Joe is a blogger by choice. She loves to discover the world around her. She likes to share her discoveries, experiences, and express herself through her blogs.