5 Reasons to Choose a Used Over a New Car

Are you looking to buy a car but do not have enough money to get a brand new one? Most students cannot afford to buy a new car. That is why a used car that falls within your budget can prove to be the better option. There are people who think that used cars mean trouble. You will have to repair it every now and then and the amount you spend on repairs will climb higher as the car gets older. This, however, isn’t always true. Used cars come with refurbished certificates which mean that the cars are in perfect condition.

Variety of make and model

One of the best reasons why you need to buy used cars is that you get a wide range of models available. As a student, you are first limited by money constraints. Having little money means you probably won’t buy the new car you’ve been dreaming of. However, that does not limit the variety of make and models of secondhand cars you can choose from. You can pick from different brands, and even go for vintage vehicles if you desire.

Less depreciation

New cars tend to have a higher rate of depreciation than old cars. In fact, the insurance guys will tell you that half of the car’s depreciation is gone in the first six years. That is one of the reasons why buying a new car can prove to be an unnecessary burden. If you do not have that much money and want to get a car that will last long without having to pay a lot for maintenance, it will be better to get a used car. Their rate of depreciation is negligible. I take the time to find a car that runs like new, you can bet that you’ll get your money’s worth.

Certified cars

Every car owner would want to buy a car that comes with a warranty. This basically protects the car from various shortcomings. Most of the companies that sell used cars have pre-owned certificates. Students who are looking to buy used cars instead of new cars can look for this certification. It is a huge relief for most people who buy used cars. There’s no need to worry yourself about whether the car still works fine or it’s already falling apart. All the used cars that come with CPO certificates are tested by their respective manufacturers to make sure that the car is good enough to be sold again.

Better resale value

If you’re the type of person who likes to change cars every few years, then going brand new may not be the most cost-effective choice. Choosing a secondhand car may be the way to go because, as mentioned earlier, it depreciates less compared to brand new vehicles. Essentially, you’re letting the previous owner shoulder the huge depreciation hit. It’s not uncommon for a car to lose 50% of its retail value just three years after driving it off the dealership. If you maintain the used car properly, then you may be able to sell it at a price that isn’t much lower than what you paid for it.

Lower insurance costs

New car owners often forget to factor in insurance costs when buying a car. In case you didn’t know, car insurance companies consider the age of the vehicle and it’s fair market value when deciding insurance premiums. Obviously, a more expensive car will demand higher repair costs after a collision. Take note, however, that some insurance companies don’t accept applications for cars older than 10 years. Take some time to talk with your provider to make sure that you can ensure the secondhand car you plan on purchasing.

In a world where prices seem to go nowhere but up, you should start looking for cost-saving opportunities without compromising your quality of life. When it comes to buying a car, you don’t have to force yourself to buy a brand-new vehicle if you can’t afford it. Used cars that come with a warranty certificate are an excellent choice as they run just fine and can last for several years more if you stay on top of maintenance.