If you’re about to scrap your current car, it stands to reason that you will soon be looking for a new one. If this is the case, you should definitely consider buying used. Here’s why.
- Price
One one hand, being the first person to own a car is nice, what with the new car smell and a single-digit mileage figure, but it means paying significantly more for your vehicle. Of course, the price you pay upfront, or the size of your loan payments, is not the only thing that you will have to consider. Since new cars are more valuable, they are also more expensive to insure.
On the other hand, purchasing a used car would mean putting down a much lower amount towards purchase and insurance. Used cars from several brands including Mercedes, Land Rover, Ford, BMW, Volkswagen, and Audi cars for sale essex could be found in great condition, and at a budget-friendly price tag. The chance to buy a new car may be tempting, but the decision to buy a used one may be an economical decision, especially when you have a tight budget. Besides, it tends to have a reduced rate of depreciation.
- Depreciation
New cars lose a significant amount of value the second you drive them away from the dealership. They will often go on to lose as much as 40% during their first year. However, depreciation levels off after the third year, so buying used makes sense.
- Fees
When comparing used cars with new ones, it’s important to note that used cars are often much more affordable. Unlike new cars, which lose a significant portion of their value as soon as they’re driven off the lot, used cars have already undergone the bulk of their depreciation. Additionally, insurance costs for used cars tend to be lower, further reducing ongoing expenses. These financial benefits make exploring the options for pre-owned cars at thinkcarsmart.com and similar platforms a smart choice for cost-conscious buyers.
- Variety
When you buy new, you’re only able to look at models made that year. When you buy used, you’re able to browse a much more comprehensive selection. You can look for features that are no longer offered and even vehicles that are no longer made. The supply available is close to endless, especially if you start looking a bit further away than normal. All you need to do is to look for reliable used car dealers in your vicinity by searching online. As an example, a person from Leeds, England, might search for ‘used cars leeds‘ or ‘car dealers in leeds’ to find a used car showroom near them where they can get a good second-hand car of their choice.
- Technology
Buying a used car has always made financial sense, but recent technological leaps have made it a more practical option. Buying used no longer means having to look through the back of the local paper. You can now use online aggregate sites to narrow down results and find exactly what you’re looking for, while other sites are able to provide a complete picture of the vehicle’s history.
Ultimately, buying used means getting exactly what you want – and at a better price.
