The title might have caught your attention in the wrong way. How can used cars be better than new ones? Well if you continue reading this article, you might realize something you haven’t thought of before. There are some scenarios in which used cars can be better than buying new cars. If you don’t believe in that statement, this article will prove to you that it’s true. Here are some of the advantages of buying used cars instead of new:
Saves You Money
There’s no doubt that used cars are relatively cheaper compared to a new model. On average, second-hand cars are almost 50 percent cheaper compared to new ones. That means you’ll be able to pay off a used car much faster than a brand new vehicle. It will save you money on your purchase and allow you to use that saved money for other purposes such as maintenance and future repairs. Consumers tend to switch cars at an average of six years after the purchase. If you paid $10,000 for a used car instead of the original price of $25,000 when purchasing a new one, you can potentially opt into a better vehicle for your next car purchase. You can also buy another $10,000 can get two working cars for the price of one.
Bulk of Depreciation has Occurred
There’s a common complaint among consumers regarding how quickly a new car tends to depreciate even right after it’s taken home from the. Looking at the numbers, the value of a new vehicle car drops by 11 percent on the drive home. That means a $20,000 car will worth only $17,800 the moment it leaves dealer. The vehicle will continue to depreciate in the coming days, weeks, months and years. For used cars, the bulk of the depreciation has already occurred, with some even gaining value through the years. Despite the depreciation, some used vehicles still look good as new. From that perspective, you can potentially get more value by opting for second hand cars.
No Exaggerated Fees
Acquiring a new car might feel great. You may even have found one with an amazing deal. However, many new vehicles tend to have hidden fees such as shipping charges (if you purchased outside your area), destination fees, and the so-called “dealer preparation fee.” Some new car prices also have hidden charges such as advertising, which can go up as high as a thousand dollars! On the other hand, used cars have no hidden fees. You can be charged with a document fee; but that’s only a hundred dollars.