Are you considering purchasing a brand new car? Here are six benefits of buying a used car and skipping new car dealerships.
There are many options for changing your car. There are two options: get an entirely new car or purchase a used quality car. These are both great choices however, buying us auto sales lawrenceville ga offers many advantages. They include upfront savings and lower insurance rates.
We’ll go over the advantages of buying used cars to help you make an informed decision about the purchase of your next car.
Advantages of Buying a Secondhand Car
There’s a wide range of advantages to buying an used vehicle instead of buying a brand new car. Here are six reasons you should choose a pre-owned dealership instead of a brand new one.
Costs in advance
Of course, purchasing anything secondhand means savings, but few secondhand items provide the same savings that a used vehicle can. The cost of a new car rose to $47.332 in 2021.
Although 2021 is expected to see the highest demand for used cars ever however, the median price of a used car remains at $28,305. That lower price offers upfront savings of $19,027 when compared to the cost of a brand new car, which will translate into lower monthly costs.
You have two options: save your money in the bank, or invest in a more-equipped pre-owned car and save.
Depreciation
Research has shown that the average vehicle loses 20% within the first year. Certain vehicles, particularly luxury cars, tend to appreciate much faster. That means that the $47,332 car would, on average, be worth only $37,866 after twelve months.
After the initial depreciation hit The average vehicle is still losing 15 to 25% of its value every year for the initial five years after it leaves the car dealership. It’s a total of 60% loss in value in only five years. This brings the brand new car’s worth to around $18,933, which is a loss of $28,399.
You’ll see less depreciation if you purchase used imports auto in the event that it has already taken the initial 20% loss. Once you would like a knockout post on used auto, browse around this site.
In the worst-case scenario, a one year old used car will lose 15 to 25% per year for the next four years. The car that cost $28,305 is worth $8.956 after four years. It is assumed to have that the car will lose 25% of its value every year. This is a loss of $19,349 that’s $9,050 less than a new vehicle.
This is especially helpful when it comes time to replace your vehicle, as you’ll lose less amount of money when you trade in your vehicle.
Insurance rates
The insurance premium for your car is yet another reason to consider buying a pre-owned car over the new one. A new car is more expensive to purchase and may be more difficult to fix in the event of being involved in an accident. This means you’ll pay more for car insurance because the insurance company has to pay for higher expenses.
More Options
Walk into any car dealership that sells new cars, and you’ll see an array of options, colors, trim levels and choices for each new model. All of them are from one manufacturer and drastically limit the options you have.
If you go to a used car dealer, you will have a wide selection of makes, models and body styles that you can explore and pick from. Additionally, some dealerships may even have specific models in various trim levels and colors.
This is a fantastic alternative for those who aren’t sure of what they’d like to purchase and would like to try out different cars in different classes prior to making a the final decision about the next car they want to buy.
In-Depth Vehicle History
You’ll have added security when you buy a used vehicle. This will tell you whether the prior owner was in an accident that resulted in an insurance claim, if the automotive was flooded, and much more.
It is also possible to get an exhaustive list of maintenance completed by the previous owner if they did their work with care. This list will give you an guarantee that you’re receiving an excellent pre-owned car.
Automobiles Last Longer Than Ever
In the past, 160,000 miles was the time when a car reached the end of its lifespan of serviceability. Today’s technology and assembly processes make sure that cars last longer than ever. In fact, industry experts say they’re designed to last over 400,000 km provided you adhere to the manufacturer’s maintenance routine.
The car with 40k miles on the odometer is less than 10% of its planned life span.
