Despite the advantages of owning a car, many are reluctant to make purchases because of its overwhelming price tag. Indeed, a brand-new car can take a toll on one’s finances, thus it’s considered by a lot of people as an unnecessary expense. However, does buying a car have to break the bank?
Other than the sky-rocketing prices of cars, there are also added expenses that make purchasing seem even more wasteful. For instance, you’ll have to worry about the subsequent costs, depreciation or value losses, and associated fees. The total can double up your payment, and that’s not advisable especially if you’re getting a car loan.
Fortunately, you have a more cost-effective option: buying a second-hand car. In this article, we’ll be discussing some reasons why getting a used vehicle is beneficial.
A new car loses thousands worth of value when it’s been driven often, thus second-hand cars appear to be better bargains. This is why you can buy an older high-end brand for the price of a brand-new but conventionally inexpensive one.
Statistics provided by the CNW Marketing Research show that the price of a brand-new car in 2008 is about $25,536 excluding taxes and additional fees. Several years later, that same car’s worth can go down to about $13,000. This proves that if you buy a second-hand car, you won’t lose as much money as the original buyer.
According to Money Crashers, a lot of dealers strategically raise costs by highlighting extras that aren’t essential. For instance, an anti-rust coat, protective film, or some fancy accessories. However, these add-ons don’t affect resale value at all.
Buying a used car will help you avoid paying more for features you didn’t even ask for in the first place. In fact, you can prioritise looking for cars with particular features that you want. This will narrow down your search and allow you to pay a lot less than the previous owner did.
Small Differences in Condition
Manufacturers assert that cars can last for a minimum of about 100,000 miles. Thus, condition and won’t be compromised when you buy a pre-owned car. There are also credible certification programs and extended long-term car warranties that give you peace of mind when making a purchase.
Buying the Right Used Car
How do you choose a good used car? Opt for one that’s slight-used or is just about two to three years old and still has at least 30,000 miles. This will also help you avoid registration fees on new cars as the age of a car directly affects rates of registration. Many information online resources suggest that you consider buying a second-hand ute or utility vehicle for sale, especially if you prioritise practicality.
New cars offer great perks but are they really worth the price? If you want to save money, go for a pre-owned car instead. Keep in mind though that you’ll have to work harder on doing initial research to find your ideal car, but it will surely pay off.