Reasons to Buy a Used Car in Today’s Economy
By: Viraj Shah
It’s no secret that one of the absolute best scents in the world – outside of freshly baked cookies or pretzels – is that of a new automobile. It’s difficult to describe, but the brand-new parts that comprise a non-used vehicle exude an “aroma” that is simply unforgettable…and anyone who recalls their first new car purchase can attest to this.
Sure, that sparkling out-of-the-showroom Vette would look great wrapped around you, but there are a plethora of reasons to purchase a used vehicle, especially in the current economic climate.
When You Want to Save Money
Used vehicles, on average, are nearly 50 percent cheaper than new variants, and as such, you’ll be able to pay off a used vehicle a lot sooner, saving you financial fees.
When You’re Concerned About Depreciation
One of the first things you’ll hear out of the mouth of a new car buyer is how their “investment” is already beginning to depreciate – even right out of the showroom. The vehicle indeed continues to depreciate as weeks, months and years pass, but when it comes to used vehicles, the bulk of the depreciation has already occurred. In fact, some used vehicles may even go up in value!
When You Don’t Want to Worry About Exaggerated Fees
Remember the age-old saying that if something is too good to be true, it must be? That rings accurate for new car buying, in particular, as there are always hidden fees going on behind the scenes…from shipping charges to destination fees and from dealer prep costs to “appearance packages,” many new vehicles have hidden or unreasonable fees attached to them. A used vehicle, in comparison, generally has no such costs, though there could be a “doc fee” that equates to a few hundred dollars.
When You’re Considering Customization
Love the look of a rear spoiler or blinged-out rims? You don’t have to deal with expensive dealership add-ons when buying a used vehicle; you can install your own at a lower cost than those on a new car.
When Certification Matters
Certified pre-owned vehicles virtually guarantee you that you’re getting a quality, thoroughly inspected vehicle that’s also a bargain. Such vehicles have been inspected, refurbished, and certified by the manufacturer or the dealer, assuring the vehicle is up to snuff.
When Warranties are Important
With some used vehicles still bringing with them part of their original warranty and others offering the option to create a new warranty, it’s a plus knowing your pre-owned vehicle can come along with factory-trained technicians to repair it with quality parts and attentive service.
When You Care About the Environment
Buying a used vehicle actually reduces the carbon dioxide output in the environment, thus impacting the globe in a reduced way compared to newer hybrid vehicles (contrary to popular belief). Nearly a quarter of the carbon dioxide a vehicle exudes during its lifecycle occurs during manufacturing and initial shipment.
When Insurance Premiums Need to be Lower
Remember the ins and outs of “gap insurance”? That is, if you’re in an accident with a new car, the insurance will pay what the car is worth at that time, leaving a so-called gap between the purchase price and what the vehicle is worth – thus the introduction of “gap insurance,” which covers the difference between what you paid for the new vehicle and what its depreciated value is. With a used vehicle, gap insurance isn’t necessary; the depreciation has already occurred.
If you are stuck between new and used vehicles, consider purchasing a used vehicle from a reliable source.
Published by: Khy Talara
