It is tough to make a decision whether to buy a new or pre-owned vehicle. Brand new vehicles come with all sorts of features, styles, low interests and such kind but the price may not be friendly at all. This article will focus on giving you an insight on why choosing a second-hand car could work for you.
To start with, used cars are less expensive. The value of a new car drops once it is taken out of the showroom and driven around. On average it will be worth 54% of the original price after three years only. Well this is bad So, in essence, the average price of a used car will be lower than that of a brand new model. In addition to this, you will end up paying less on taxes and the insurance too. It’s however important to consider factors such as mileage and the remaining warranty since it will influence the maintenance budget.
Financing rates and terms is another issue. There are very attractive financing deals for new cars and with longer terms. But do not forget to do some mathematical considerations. Besides there are programs that have helped bridge the gap. Certified pre-owned cars provide lower rates and a bonus for additional warranty and broad car inspections. Thus the advantage of new cars keeps waning due to the unique and attractive financing options that come with used cars.
Another factor in play is the history report of the pre-owned vehicle. You may hesitate to buy a used car since you don’t know where it has been or other security reasons. Do not be in worry however since there is a way to rack the history report of the car you are interested in by using reliable tools like CarProof. This way you get to know exactly what it is that you are dealing with. Even though history reports may not have every bit of information, you will get the essentials to settle your doubts. These include, how many owners previously involved, detailed accident or damage history, previous status of registration, mileage and distance validation records, maintenance records etc.
Lastly the issue of reliability comes in. Sometimes you think it may be risky buying a used car due to reliability concerns. It is quite settling to know that research has shown that your average car being driven out there is over a decade old, and this number will go up because companies keep on enhancing their models. Modern cars, SUVs, and trucks have a longer lifespan and that’s an advantage for you if you are looking to buy a used car.
Though buying a new car sounds like a great idea and has its prospects, it is also undeniable that buying a used vehicle offers a bigger advantage.