Why Buy a Used Car? 5 Key Reasons to Know

Posted August 21, 2020 by in Lifestyle
used car

Are you trying to save money? If so, buying a used car, rather than a new one, may make sense.

However, if you are a savvy shopper, you may want to know for sure, why buy a used car? If this is the case, keep reading. Here you can find out why this is a purchase that makes sense:

Mazda steering wheel

1. Depreciation Considerations

By now, you should know – cars depreciate. With a few exceptions, buying a new vehicle as an investment isn’t a good idea.

Cars are lasting much longer than they used to, but vehicles will still lose some of their value early in their life. While some models don’t depreciate as much as others, you can expect a new car will lose approximately 50% of its value within the first three years of leaving the lot.

Depreciation is one of the top reasons to buy used.

2. Find Certified, Pre-Owned Options

If you are like many car buyers, having a warranty that offers protection against a vehicle’s shortcomings is worth the premium paid for a new car. However, today, almost all carmakers provide some type of certified pre-owned option.

It is a good idea to find a used car dealership that offers this to take advantage of the benefit.

3. A Variety of Options

Each year approximately 350 models of vehicles are offered for sale in the new-car market. However, if the saying “variety is the spice of life” is true, then used car options definitely take the cake.

While 350 options may seem like a lot, this is dwarfed by the total number of used car options available.

Everyone has their own unique tastes, and in some situations, the car you really want may not be available. Even if this is the case, the used market has options you will love.

4. The Availability of Vehicle History Reports

You can now access vehicle history reports, which let you know about the specific vehicle you are thinking about buying. Thanks to these reports, you can have more peace of mind regarding the vehicles you are interested in purchasing.

The companies that offer these reports today rely on highly reliable sources that provide updated and accurate information. You can learn about repair history, past accidents, maintenance, and more, just by utilizing these reports.

5. Lower Insurance Costs

When determining your insurance rate, the value of your vehicle is a top consideration. This really makes sense if you think about it. The more valuable your car is, the more money they may have to pay if it is involved in an accident.

With a used vehicle, your insurance will be lower because the vehicle isn’t worth as much due to depreciation.

Why Buy a Used Car: Now You Know

If you have been wondering why buy a used car, now you know. The information here clearly explains all the benefits this offers.

Are you interested in learning more helpful information on a variety of topics? If so, be sure to check out some of our other blogs where you can find information about musical instruments, home and garden, electronics, and more.