Are you planning to buy a car? Do you want a brand new car or you’re okay with used ones?
Buying your own brand new car is one thing you dream of doing since you were just a kid, right? And now that you have enough money to buy your own car, you’re kind of excited to buy it as soon as possible, but have you ever thought of buying used cars instead of new ones?
If not, then I’m going to tell you why it’s better to buy used cars than new ones.
4 Reasons Why You Should Buy A Used Car
Buying used car is way cheaper
Well, the most obvious reason why one would buy a used car is because of its price. It really is way cheaper to buy a used car, and sometimes you can be lucky enough to find a used car that looks like new even if it’s been used for a while now. If you want to save your hard-earned money but you still want to get a car, then buying a used car is the way to go.
Buying used car minimizes depreciation
Buying used car also minimizes depreciation that you would experience if you opt to buy a new car. A brand new car’s value depreciates immediately once you drive it off out of your dealer’s lot. You could expect more or less 30% depreciation of its value on its first two years alone. That’s a lot of money involved, and one of the reasons why it’s better for you to get a used car instead.
Get better car for less money
Do you know that most car manufacturers don’t change much on your dream car’s model even though they release a brand new model every year? That’s why it’s sometimes best for you to buy a 2011 Honda CR-V than get a 2013 Honda CR-V because you would’nt notice much difference, the same goes to a 2011 Mazda 3 and 2013 Mazda 2013, and other car models out there.
If you dream of owning a luxury car, then getting a BMW that was made last 2005 than buying the brand new model can still be a good for you because most of the time the retail price of an older car is half or more than half than its retail price today and sometimes a 2005 model can still resemble a 2013 model in many ways.
Reduced Insurance Costs
A factor affecting the insurance cost of your car is its value, so having a used car means it’s less valuable and that you’ll be getting cheaper insurance.
If you could find the “right” used car, then getting a brand new car may not make sense anymore. The catch there is the word “right”, because finding a well-maintained used car with not that much mileage can be a hard task. Though, it could be worthwhile because of the amount of money you’re going to save once you find it.
Have you ever bought used car yourself? What convinced you in buying that car?
Other articles related to cars that you may like:
How To Calculate The True Cost Of Owning A Car – Modest Money
Affording A Used Car In Today’s Economy – Frugal Rules
Used Car Buying Tips That Could Save You A Bundle -Reach Financial Independence
Should You pay Cash or Finance Your Next Vehicle – Debt Roundup
How To Save Money When Buying A Car – Monster Piggy Bank
Photo Courtesy of @Doug88888