10 Advantages of Buying A Used Car

Should I buy a used car? What are the 10 advantages of buying a used car?

Are old ones the best? More than twice as many car buyers opt for a used vehicle over a new one, but is that the right choice for you? There are many reasons to purchase a used car. Let’s have a look on the overlooked advantages of buying a pre-owned car than a new car.

1. Cost-friendly

You already know this. Used cars are exponentially more affordable than buying a new vehicle. Below average prices for pre-owned vehicles also provide a better chance of being able to pay for your purchase in cash, or making a larger down payment. You might get a higher-spec model than you could afford new, too.

2. Less depreciation

Additionally, buying a used car avoids the initial depreciation hit that your vehicle takes when you drive it off the lot. During the first year of ownership, a new car can lose up to 30% of its initial value. A used car will still depreciate with time, but significantly less quickly than during the first couple years of owning a new car.

3. Quicker pay-off

Used-car loans are usually shorter than those for new cars, enabling borrowers to pay-off their vehicles sooner.

4. Used cars include extended warranty

One of the most common questions about buying a used car is about warranty. Many used cars are still under factory warranty. Factory warranties are easily transferred to new owners but even if the coverage has expired, used car buyers can take advantage of extended warranties. This may not be an option in every case but most dealerships offer a variety of warranty options to cover used vehicles, especially any of their Certified Pre-Owned cars.

5. Cheaper to insure

The cost of your car insurance is determined largely by your car’s value. The more valuable your car is, the more cost is used to insure.

6. More varieties to choose

Every year new car models are released and although there are many to choose from, there is significantly less variety of new cars available than there are of used cars. Buying new means that you are limited to models that have been released over the past couple of years. However, buying used car lets you browse a larger spectrum of vehicle models that includes the older favorites. Some old car models are evergreen, aren’t they? They stand still over decades carrying our past golden memories.

7. Test owning

You must have heard of test driving but have you ever heard of test owning? Why test owning is taking over test drives? It may not be as familiar as a test drive, but the term ‘test own’ is trending up into auto industry vernacular. Taking a quick test drive around the block while the salesperson is yammering in your ear doesn’t provide you with much information, test own, by contrast, means you get to buy a car with the guarantee that you can return it for a full refund after a few days if you change your mind.

8. More reviews

Buying a used car also means you’ll be able to find lots of hands-on information about the vehicle on social medias, including YouTube reviews, posts on car forums and also Facebook groups or car pages. For models that have been around for a few years, this information can be invaluable and shed light on common issues, worries, and how to easily troubleshoot simple problems.

9. Research a used car’s long-term performance

It’s a fact that we always think of the history of used car before buying it. Do you know that one of the benefits of deciding to buy used is the ability to look back on the vehicle’s history? As well as all the general information that you can find about a car, such as consumer reviews, you can also see the specific history of an individual used vehicle.

A car’s VIN (vehicle identification number), provides a detailed vehicle’s history report, such as the mileage or if it has ever declared a huge loss by an insurance company.

Buying a pre-owned car lets you see into a car’s past and gives you an idea on how it will perform in the future.

10. Used cars have aftermarket commodities

New cars are the vehicles that endure recalls and other setbacks. When it comes to used cars, most of these issues have already been solved.

The model you’re considering has already dealt with and came across past problems. Plus, if you have an issue with a used car, the chances are high that other owners have figured out and solved those same issues. So, it’s easy to repair used cars.

The Bottom Line

Do not judge a book by its cover. There is a saying, old is gold. Based on the 10 advantages of buying a used car stated above, you can realize that buying a pre-owned car has plenty of benefits. An old car may bring new and positive changes into your life. Kindly share your views on this 10 Advantages of Buying A Used Car article in the comment box.