The moment you drive off the lot, a new vehicle loses between 9% and 11% of its value. By the time it’s been a year, the car has lost about 20%.
One of the many reasons people opt to buy used cars for sale is car depreciation. From being more affordable to the variety of trim options, there are significant benefits of buying a used car.
Keep reading to learn 9 used car benefits!
1. More Bang for Your Buck
A used car cost can be significantly less expensive than a new car. Plus, you’re getting more bang for your buck. If your budget is tight and you’re looking at new cars, what you can afford might not pass a base model or an entry-level vehicle.
If you’re buying used, however, you can look for something fancier with better trim, and end up getting more features than you would buying new.
2. New Cars Depreciate
Cars depreciate. Even though many cars last a long time, they lose most of their monetary value within the beginning years of their lifespan.
New vehicles do come with a lot of perks, such as free maintenance, low financing, and warranties. However, another option to consider if you don’t want to buy new but still want some perks are certified pre-owned vehicles.
3. You Can Buy Certified Pre-Owned
Many potential buyers go for a new car because they want the warranty that comes with it. However, certified pre-owned cars come with warranties, too, and they’re used cars!
Certified pre-owned cars must pass a thorough inspection.
If you’re considering one, find out what the warranties are. Is there both a manufacturer’s warranty and a dealership certificate? Check for additional perks like a complimentary loaner car when yours needs work or free roadside assistance.
4. There’s Plenty of Data
If you’re considering buying a used car, long gone are the days of getting your vehicle-savvy friend to peruse the car in question for any potential faults or hazards.
Every car comes with its own set of data, including previous accidents, the number of ownerships, and the climate the car spent most of its time in.
In addition to individualized car data, there are tons of used car tools for pricing. You can easily figure out whether a deal is a good one or not. By looking at your car’s make, model, year, and history, it’s not hard to make sure you don’t overpay.
Every vehicle comes with a vehicle history report. If a car has changed hands, endured accidents, or had work done, the history report reflects that. A history report can save you from buying a bad car.
However, even with the existence of a good history report, it’s still a smart idea to have the car inspected before you buy it.
5. Registration Fees Are Cheaper
Depending on where you live, older cars are typically cheaper to register. Most states vary based on the car’s age, weight, and sometimes power.
Some states charge yearly taxes, too, which can also be based on a car’s age. Ask your dealer how registration works in your state as buying used could earn you a better deal.
6. Used Cars Last a Long Time
Cars last longer than they used to. The average car now lasts around 12 years.
Car manufactures have taken amazing strides to push 100,000 miles to 200,000 miles. Used car buyers don’t have to worry about a vehicle’s potential remaining lifespan in the same way they used to. With an inspection and a look into a car’s data, it’s easy to determine what one should expect out of their new, used car.
7. You’ll Avoid Hidden Fees
When you purchase a new car, it often comes with hundreds of dollars worth of hidden fees. When you buy used, though, you won’t have to worry about shipping fees or other costs that come with buying a new car.
If you’re buying used, be sure to read the fine print still and find out what additional fees, if any, are being added to your total car cost.
8. Used Cars Have Aftermarket Commodities
Used cars have aftermarket commodities that work. New cars are the vehicles that endure recalls and other setbacks. When it comes to used cars, most of these issues have already been solved.
The model you’re considering has already dealt with and overcome past problems. Plus, if you have an issue with a used car, the chances are high that other owners have figured out and solved those same issues. With a simple search online, you should be able to solve almost any unknown when it comes to your used car.
9. Used Cars Have Reviews
When a new car hits the market, it takes time for driver reviews to build up. Plus, things like crash test reports and other specific feature reviews take time.
When you buy a used vehicle, there’s a plethora of information online with regard to safety, features, issues, and anything else surrounding that particular make, model, and vehicle year.
If you’re buying used, research is one of the greatest tools you can use in your car choice.
Used Car vs. New Car
There are advantages to buying a new car too. For example, new cars don’t have a history yet, so you don’t have to worry about past owners and long-term effects.
Plus, new cars are less expensive to finance, and there are tons of deals.
You can get safe technology, and a lot of the time, new cars are more fuel-efficient.
If you buy a certified pre-owned car, though, you can likely get that same technology. Plus, when you buy used, you can spend time doing research to find a vehicle that’s fuel-efficient and has all the perks and features you’re looking for.
When you buy used, you’ll know what issues to avoid and have confidence you’re getting a deal, and have more options to choose from!
The Benefits of Buying a Used Car Are Plentiful
From being able to buy a better car or explore a car’s history, there are plenty of benefits of buying a used car.
You can research to find out whether or not you’re paying the right price and read lots of reviews on the many aspects of the car you’re considering.
Plus, you won’t waste money on depreciation just by driving something new off the lot.
If you’re looking for “used cars near me,” contact and chat with the Cool Car Guys so that we can help you find the perfect ride for all your needs!