Many people prefer to have a new car. However, the benefits of having a used car are often overlooked. There are several reasons that you should consider buying a used car.
You have probably heard that a new car depreciates when you drive it off of the lot. It turns out that there is a lot of truth to this myth. In fact, researchers estimate that a new car depreciates by 20 percent as soon as you drive it off of the lot. Your car will depreciate by 10 percent within the first year.
This means that the value of a new car will decrease by 30 percent during the first year. You will be able to avoid this if you buy a used car. Even if your used car is only one-year-old, you will still be able to minimize depreciation.
Many states require that you pay sales tax on a new car. However, you will not have to worry about sales tax if you buy a used car. This can significantly reduce the amount that you will have to pay for a used car.
Cheaper to Insure
The value of your car is one of the factors that will determine how much you will have to spend on car insurance. Because new cars are more valuable, they are more expensive to insure. You will save money on insurance if you have a used car.
Many people are reluctant to buy a used car because they think that it will not be reliable. However, today’s cars are built to last at least 100,000 miles. That is why you will not have to worry about getting an unreliable vehicle. There are several things that you can do to ensure that you will be getting a great vehicle.
For example, you can get a car with an extended warranty. You can also buy a car from the manufacturer’s website. If you buy from the manufacturer’s website, then you will be choosing a vehicle that has been inspected. It has also met strict requirements.
Buying a used car is no longer like rolling a pair of dice. You can also use companies like Autocheck and Carfax to see the car’s history.
No Features That You do not Need
One of the reasons that new cars are so expensive is because they come with a lot of additional features. This includes things like anti-rusting coating, protective films, and pinstripes. Those features may be nice, but you do not want to pay for something that you do not need or want. If you buy a used car, then you will only be getting the features that you need.