5 Reasons To Choose A Used Car Over New
However, should it be this way? Should used cars always be seen as the poor cousin of brand new cars; the option that people settle for because they have no other choice?
The answer to the above is simple: no. Used cars shouldn’t just be seen as a backup, the choice you make when your budget refuses to expand to a new vehicle. Curious to find out more about the potential benefits of used cars? Then read on…
#1 - You avoid the worst of the depreciation horrors
New cars depreciate in value scarily quickly. A new car will lose around 60% of its value in the first five years of its life, with a huge 20% being lost during the first year alone. This alone makes new cars seem like unattractive financial propositions.
Of course, used cars depreciate in value too, but the curve is nowhere near as steep as it is for new vehicles. If you are looking to buy a car with the intent to sell it on in the future, then a used car is the best choice by far.
#2 - Mileage is more manageable than you might think…
… so you can save a fortune on relatively high-tech vehicles. Used cars aren’t necessarily old cars; in fact, many used cars are rather young— they’ve just been driven a lot.
You can find shockingly affordable high-tech vehicles, but they will have a high mileage, which gives many buyers pause. However, it’s worth asking yourself how much you actually drive. The average annual mileage is just over 13,000 miles; and modern cars are now more than capable of clocking over 150,000 miles. So if you buy a car with 100,000 miles on the clock, it’ll have all the mod cons, and you’ve got at least three years worth of usage available to you.
So while you might not be able to buy a vehicle at the very cutting edge of gadgetry, you should be able to find a relatively youthful car with plenty of mod cons and a manageably high mileage— and all for a fraction of the price of buying the vehicle new.
#3 - The lower purchase price
So, we’ll keep this simple: used cars are cheaper. If you’re on a budget, that means you’re going to be able to get more for less. Some people argue that the lower purchase price of used cars is offset by the higher cost of repairs, but you can offset this by purchasing and enjoying the benefits of a used car warranty; a warranty that you’ll have more money available to purchase, thanks to the lower price of the vehicle itself. There’s no doubt about it: If your foremost consideration for your vehicle is price, then a used car is almost always going to be the best decision for you.
#4 - Lower insurance costs
If you buy a new car, you will likely be encouraged to take out gap insurance to cover some of the depreciation issues that you will inevitably experience. Gap insurance is a useful product, but it’s also an expensive product. As you don’t need gap insurance for a used car — as the worst of the vehicle’s depreciation has already occurred — then your insurance premiums will be far more affordable if you buy a used car.
#5 - You have the benefit of other people’s experience
If you buy a brand new car fresh off the production line, then you’re taking a gamble. There’s relatively little user feedback for you to read prior to making the decision to commit… which is quite strange, when you think about it. How often do you buy things online without at least checking the reviews? It’s probably rather rare, so why buy a new car you can’t research genuine user reviews of?
If you buy a used car, then there will be plenty of information about what that model of car is actually like to live with and drive on a daily basis. This means that you’re able to make a far more informed decision about your purchase, so you can be sure you find the right vehicle for your lifestyle.
In conclusion
As the above show, second-hand cars don’t have to be second choice; why not consider a used vehicle the next time you’re looking to buy a car?
