If you don’t need the bragging rights that come with a driving a new car, buying a used vehicle can save you a lot of money. But did you know there are more advantages to buying from a used car dealership than just spending less to take it home? Here are several perks that come along with purchasing a pre-owned vehicle.
Lower Operation Costs
- Pre-owned cars are usually cheaper to insure than those fresh off the factory lines. These cars cost less to replace, so the insurance company won’t lose as much if an accident occurs. Choose an older model to see your monthly premiums drop even lower.
- Avoid the dreaded depreciation. Say you buy a new car for $10,000. By driving it off the lot, you lower the car’s resale value to $6,000. Effectively, you lose $4,000 of your hard-earned cash. When you buy from a used car dealership, your payment is based on the depreciated price. So instead of losing $4,000, you end up saving the same amount.
- Pay less for your registration too. State car registration fees are based on vehicle value and model year. Every state varies slightly in the formula they use to determine final registration costs. However, fees generally fall sharply 3 years after the vehicle’s manufacture date.
- Save yourself some mental stress. New cars are nice. So nice, in fact, that some owners will go to great lengths to keep them in pristine condition. Expenses like getting your car professionally cleaned and detailed can add up quickly. You’ll keep your used car clean too. You just won’t have a heart attack when spills or scratches happen. This is a BIG plus for families with pets and small children.
- Fascinated by the fancy features in a newer model car? Don’t break your budget! You can buy a slightly older version of the same car. You won’t get to customize your vehicle like a new one, but you can often find some of the features you want in a more affordable package.
- Get that new car feeling without the new car price. Buying from a used car dealership means you can buy a certified pre-owned car. These vehicles are required to pass a variety of mechanical and visual inspections. You can find a vehicle in near-mint condition on a certified pre-owned lot. These cars can come with a warranty as well, making them an even more attractive alternative to buying new. Grab a “new car smell” scented air freshener and enjoy your savings!
- When you invest in a used car, you are free to change your mind. You can buy the sporty 2-seater now. If your life changes paths and you need to upgrade to a family-friendly minivan, you won’t lose as much money.
Buying a used car saves you money, time, and mental anguish, and gives you the freedom to choose a vehicle that fits your budget and works for your lifestyle.