Most people need a car to get to work, take their kids to school, go shopping, and just get around every day of their lives. Unfortunately, not everyone has an unlimited supply of money to spend on the car of their dreams, especially a brand-new one. As nice as that new car smell may be, it’s a lot cheaper to buy an air freshener than an entire car. If you’re not already convinced, here are the three best reasons why you should buy a used car instead of buying new.
- More Car For Your Money
On average a new car loses from 10% to 20% of its value as soon as you drive it new out of the car lot. This means that you’re only ever going to make a huge loss on your car, even if you sell your car a month later. To avoid this, buy a car that someone else bought new; This way, if you do choose to sell your car a few months later, no one is going to take this large percentage off the value. This means that you’ll be able to sell it for close to the amount that you bought it. Although used car finance tends to be a little more expensive than financing a new car, you can buy a much bigger car, or a better model, for the same price as you would for an older model or smaller new car, so you would still save money. This is great if you’re on a tight budget, or require a large car, but don’t have the funds to buy a large car brand new.
- Cut Down On Taxes
If you haven’t bought a new car before, you would be surprised just how expensive registration fees and taxes for new cars can get. Some states, including Alabama, Arizona, and Colorado, have fees that go up to and over two thousand dollars, which is up to 14% of the price of the car when it was bought. Buying your car used cuts these expenses drastically, leaving you extra money for a rainy day.
- More Reliable
One of the biggest reasons people give for not buying cars used is because they have had a previous owner, who may have caused unseen damage to the car. A few decade ago, cars would rust, break down, and just stop working in less than ten years. These days vehicles last a lot longer, and the previous owner would have needed to seriously abuse the car to do this sort of damage in such a short time. If you are that worried that the car may be unreliable, have a mechanic check it over before you hand over any money. Regardless, as long as the car was looked after, it is sure to last you a long time and save you plenty of cash.
Used cars are a lot cheaper and a lot more reliable than you may think, so if you’re looking to buy a car anytime soon, then it’s certainly worth a thought.