You might think that the only advantage of buying a used car is the lower price. Think again! There are many reasons to buy used, some of which you might not be aware of.
Have you considered things like depreciation or insurance rates and how they differ between new and used cars? Or how about Certification programs and special warranties? These are just some of the factors to consider when deciding to buy new or used.
We’ve picked out some of the top benefits of buying a used car:
Avoiding Depreciation
No, this has nothing to do with your car not “appreciating” you. Depreciation occurs when a vehicle loses a percentage of its original value. When you buy new, your car deprecates substantially as soon as you drive off the lot – after all the car goes from “completely new” to “used” the second you purchase it. In fact, most new cars lose 40% or more of their value in the first year of ownership. Not so with used cars.
When you buy used, the car will be worth close to the same amount when you buy it as when you decide to trade it in. This saves drivers a lot of money in the long run.
Better Insurance Rates & Loans
Insuring a used car is typically less expensive than insuring a new one. Plus, you can shop around and compare insurance rates on different used car so that you receive the best rate possible.
In addition, many dealerships offer used car loans with shorter terms than their new car counterparts. So you won’t be paying off your used car loan for 12 years like you might be with a new car.
Certifications & Warranties
You’ve probably heard of Certified Pre-Owned cars or CPO programs, but what do they mean for you and your used car? Buying a Certified Pre-Owned vehicle means that your car has been meticulously inspected for any kind of damage or sub-par conditions. If any of these imperfections are found, the dealer will restore the vehicle back to its original state.
What’s more, CPO programs have guidelines for what cars can quality – often they must be later model year vehicles with low-mileage. And they frequently come with an extended warranty to cover the car past the expiration of the original factory warranty.
Even if you don’t choose a Certified Pre-Owned model, many dealerships still offer special warranties on used cars to ensure that you get the most out of your used car purchase.
Avoiding the “New Car Syndrome”
You know what we’re talking about – “Don’t put your dirty shoes in my NEW car!” New car owners often get a mental complex about the newness of their car and an irritating need to protect it from any damage or dirtiness.
Even if you buy a recent model year used car, you still feel as though you don’t have to be as careful or worry so much about petty damage. It’s already been around the block once – it will be fine!
As you can see, buying a used car can be a very smart investment indeed. We at Steamboat Motors have a large selection of used cars to choose from, making it easy for you to find the right car for your lifestyle. Stop by our showroom or visit us online to view our used car inventory.
We look forward to getting you into the perfect used vehicle!
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