Do you need a car? Besides your house, your vehicle may be the biggest investment that you ever make. If you're on a budget, a new vehicle is a nonessential expense. Read this article before you visit a used car dealer. Here are 6 surprising benefits of purchasing a used vehicle.
Used Vehicles Are Cheaper
A slightly used vehicle, such as one that has less than 35,000 miles on it, can save you a considerable amount of money. In 2008, the average price of a new vehicle was about $30,000. Today, that vehicle would be worth about $16,000. Would you rather be the second buyer who saved all that money or the previous owner who lost that much?
New Cars Come With Useless Features
Many new vehicles come with useless features that most people don't need. If you purchase a used automobile, you may not get all the fancy extras you want, but at least you won't end up spending money for the ones you don't need.
Lower Yearly Registration Fees
New vehicle owners pay more in registration fees. In some states, registration fees drop during the first few years after a vehicle is manufactured. If your state has the same rule, you will save cash on registration fees by purchasing a vehicle at a used car dealer.
Less Depreciation
A new automobile loses thousands of dollars in value over time. This is why a used vehicle is a better bargain. Typically, new vehicles depreciate by about 20% when they're driven off the lot. Most automobiles will lose another 11 percent in value during the first year.
Some Dealers Charge Wacky Fees
Do you want to save money on dealer fees? If you buy a new car, the dealer will charge you more in fees. If you buy a used automobile, you will still have to pay tax, registration, and title fees, but you will have more cash in your pocket.
Used Cars Are a Fantastic Value
Today, used automobiles are a fantastic value and they last a long time. However, you still have to do your homework. Get a detailed vehicle history report from CARFAX. Make sure the car you buy is in good condition before you buy it.
As you can see, purchasing a used vehicle can save you big bucks in numerous ways. Search for a reliable used car dealer in your area. If you're a smart shopper, you will find a used vehicle that's beautiful, scratch-free, and in excellent condition!
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