The auto industry is constantly changing and car prices are rising rapidly. If you are currently in the market for a new vehicle, then you’re probably already more than aware that new car prices are going up each year, making a brand new car a very costly purchase for the average person, even with a monthly finance deal.
However, the good news is that since car manufacturers are wasting less time when it comes to introducing newer versions of their models compared to just a few years ago, it’s easier than ever to get your hands on a modern used car.
We’ve listed some of the best reasons to choose used over brand new when it comes to purchasing your next vehicle.
Reason #1. Save Money
Whether you’re looking for a cheap little run-around for your first car or want to splash out on a used Mercedes-Benz C Class, opting for a car that’s been around a bit can help you to save money, which is one of the main objectives that many people have when it comes to purchasing a new vehicle. Compared to the price of brand new cars, you can save thousands.
Did you know that the value of a new car will drop immediately as soon as you drive it out of the dealership? Because of this, many car buyers certainly agree that it’s worth looking for a car that’s been used before. You can find lots of excellent vehicles that are relatively young and have a small number of miles on the clock, at a fraction of the price of the brand new version.
Reason #2. Reliability
When you purchase a car, one of the main things that you’ll want to know is that it runs well and is reliable. However, the problem when buying a new car is that since it’s never been driven before, all you have is the car dealership or manufacturer’s word to go by. On the other hand, if you choose to buy a used car, the previous owner will be able to tell you what the car has been like during the time that they have owned it, and you’ll be able to take it for a test drive to see for yourself. You’ll also get access to service history, which allows you to be fully aware of any problems that the car has encountered in the past.
Reason #3. Slower Depreciation
Since a vehicle is one of the bigger financial investments that you will make in life, you’ll want to choose a car that’s going to lose value slowly. So, if you decide to upgrade your wheels and sell it on in the future, you’re going to lose as little as possible in terms of money.
Since cars tend to lose most of their value within the first three years of being on the road, buying a new car means that you’re more likely to lose out if you decide to sell it on in the future. On the other hand, used cars have already lost most of their value since they were brand new, so you’re more likely to sell it for a price closer to the amount that you paid.
Would you like to add a reason of your own? We’d love to hear from you in the comments.
© Emily Roberts 2017