When buying a vehicle, it is easy to be swayed by the sparkly, new side of the dealership's car lot. But take a peek over at the pre-owned and used section, as these vehicles offer an incredible value while offering the same great amenities of the new model year vehicles. Take a look below at some of the perks of buying a used vehicle, and decide whether a used car is the right option for you.
The Price is Better
It is undeniable that one of the biggest perks of buying a used car is the price difference. Even buying a used vehicle that is maybe one model year older will allow you a much better price. If you decide to buy your vehicle, rather than lease it, a new car will be greatly more expensive. Not only that, but the down payment will be exponential, as it is usually 10 percent of the vehicle's total price. If you decide to pay a lower down payment, a new car will come with a hefty monthly payment. "Remember the old saying that a new car loses thousands of dollars in value the moment you drive it off the lot?" (kengarffused.com).
No Immediate Price Hit
The minute you drive a new vehicle off the dealership's lot, you have instantly depleted the vehicle's value by a couple thousand of dollars. In addition, the first two years you own the vehicle, over 30% of the value will be lost. Alternatively, if buying used you will avoid those instant depreciation issues, and find that your down payment and monthly payments are a more reasonable, lower price. In addition, you will pay a lower insurance rate and registration fee, given that both are based on your vehicles monetary value.
Used Vehicles Are Well Maintained
When you buy a used vehicle from a reputable dealership, you can be sure that the vehicle has been well-maintained and closely taken care of. Given that dealers have realized the perks of buying used, they are making it even easier for customers to have peace of mind to know that their used vehicles are not coming with any issues. Most dealerships offer a certification program for their used vehicles, which will certify that your new vehicle has not underwent any major damage. The utmost care is taken to inspect the vehicles cosmetic and mechanical aspects, and dealerships will remedy any issues. Finally, the warranty that comes with a certified pre-owned vehicle is competitive to the warranty that would be offered if you buy new.