The Major Advantages To Buying a Used Car
When you think about buying a new car, you probably think about a shiny new model fresh off the assembly line. While there’s nothing wrong with that, there are big advantages to buying a used car. Don’t worry, today’s used cars, which are more commonly known as “pre-owned” these days, are often indistinguishable from new, especially those marked “certified pre-owned” They go through rigorous inspections and are spotless. Let’s take a look at those advantages.
This one is obvious. Used cars cost less than new, often a lot less, so you’ll save money. Even more so if you can pay in cash, as you’ll avoid monthly interest charges that could save you thousands.
Since the car is used, the depreciation is less, meaning when the time comes to sell or trade it in, you'll get more of your money's worth than the original owner did. Sell or trade in a car you bought new, and you're going to take a big loss.
Lower Sales Tax
Depending on your state’s laws, you could save thousands on sales tax by buying used. Many states require sales tax be paid on new cars but not used ones. Even in states that still charge sales tax, you'll save a bundle.
Since states base their registration fees on the car's model year and value, buying used means that you'll pay a lot less than the guy who bought the latest and greatest right off the assembly line.
The same goes for insurance. Older cars can be insured for a lot less than new ones. Make sure you still go for the best possible coverage, preferably a policy that comprehensive coverage for things like fire and theft.
Knowledge You’re Getting a Good Car
Buyers of new cars are going in blind. They won't know if a particular model is a lemon or has other issues until after they've gone into debt for it. Buying used means, they do the dirty work for you. You'll already know what makes and models are winners, and which are lemons, which saves you money and headaches.
Buying a used car can be just as rewarding as new, but it will leave a lot more money in your pocket without having to sacrifice quality, looks, or features. Use these tips to find your perfect used car today.