Buying a car whether is new or used never loses its thrill. It’s even more exciting if it’s your first car purchase. There are a few important decisions to take into consideration before you do. Should I choose a new or used vehicle? What purpose am I going to use the vehicle for? What is my budget?
Given the fact that a car is typically the second-biggest purchase the majority of people make in their lifetime behind purchasing a house, it is always advisable to have a good grasp on what your needs are and what your budget is so that you can put it all together to decide what's best for you. Researching online can become quite overwhelming. We have taken the guesswork out of this process for you by listing why there is a tremendous amount of value in buying a used car. Certified pre-owned cars are a good middle ground between buying brand new and a used vehicle.
We have listed just a few benefits to buying a used car:
1. A lower purchase price.
2. Lower depreciation. Generally, over 10% of the value of a new car will be lost in the first year from depreciation. By purchasing a car that is more than a year old, you will not lose your investment money to the first year of depreciation.
3. Insurance rates are lower for a used car. Lower registration and license fees (which are usually tied to the value of the vehicle) apply too.
4. Certified pre-owned used vehicles have to pass inspections in order to be certified.
5. Upgrading to a more premium model because of pricing is always an option if you buy a used car.