It is tough to make a decision whether to buy a new or pre-owned vehicle. New vehicles come with latest style, low interest rates, exciting tech features but when it comes to the budget it may not be the friendliest choice for you. This article will focus on giving you an insight on why choosing a second-hand car could work for you.
One, pre-owned vehicles are much cheaper. Once you take a car out of the showroom and cruise around in it, its value automatically drops. On average it will be worth 54% of the original price after three years only. That sucks! Thus buying a new car would definitely cost you more as compared to buying a pre-owned model. In addition to this, you will end up paying less on taxes and the insurance too. It’s important however to consider mileage and warranty issue because it will affect the cost of maintaining the vehicle.
Another concern is financing terms and rates. There are available and lucrative financing deals for new cars. You should not forget to do the math regardless. Besides there are programs that have helped bridge the gap. The companies give lower rates, vehicle inspections that are extensive and also a bonus on an extended warranty. This explains why the benefit of purchasing a new model has continually faded since there exist special and lucrative financing deals for used cars.
The history report of the cars is another factor. You may hesitate to buy a used car since you don’t know where it has been or other security reasons. Do not be in worry however since there is a way to rack the history report of the car you are interested in by using reliable tools like CarProof. Thus you are able to get a clear insight into what you are realy getting into. The history report may not carry all the information you need but it also provides you with the necessary major information. These include, how many owners previously involved, detailed accident or damage history, previous status of registration, mileage and distance validation records, maintenance records etc.
Reliability is another concern. Sometimes you think it may be risky buying a used car due to reliability concerns. Several studies show that the average car on the road is over a decade old and the number keeps going up as manufacturers work hard to enhance their line-ups. Vehicles like SUVs, trucks and modern models last longer so it’s beneficial if you are looking topurchase a prowned vehicle.
The prospects of purchasing a brand new vehicle are high and the thought attractive but you can’t deny that used cars give a better value.