8 Reasons Buying Used Cars is Better Than Buying New

If you think the only car to buy is a new one, think again. There are several reasons it pays– in more ways than just a lower price – to purchase a used car instead of the new and shiny.

The fact that new vehicles usually are under manufacturer’s’ warranty and need fewer repairs for at least the first couple if years really is about it as far as it goes regarding the benefit of buying new.

So why are used cars better? Read below for 8 reasons why buying used is best.

  1. New cars are much more expensive – as much as 50 percent, according to Cars.com- than a car that’s three or so years old or/and has fewer than 50,000 miles its odometer.
  2. In addition, a new car loses about 20 percent or more of its value as soon as you drive it off the lot. That’s right: $30,000 car now is worth just $24,000. And, remember, you more than likely took out a loan of about $30,000 to pay for it. You now owe more than the care is worth – and you just drove it home. Is that really financially sound?
  3. If you’re worried that used cars often don’t come with a warranty, that us changing. Many used car dealerships now are offering extended warranties on their used cars.
  4. Dealers also are offering financing deals. Some manufacturers also are jumping on the low-cost financing bandwagon. Subaru, for example, according to USNews.com, was offering low financing rates: 1.9 percent on certified pre-owned cars.
  5. Your insurance rate will be much lower. Call your auto insurance company and ask how much would it cost to insure a 2017 Toyota Camry compared to a 2013 model. You’ll more than likely be pleasantly shocked.
  6. You can get more car for you buck. You may be able to afford only a bare bones model if you purchase used, but for the same amount of money, you can purchase a certified used vehicles that has many more bells and whistles.
  7. Just try finding a good new car for less than $10,000. Just try. Dependable used cars that price point are plentiful.
  8. As hinted at above, many manufacturers are offering older model cars of about two or three years old with certified, pre-owned programs. These provide certification that the vehicle has passed certain parameters. There’s also usually an extended warranty. BMW, Lexus and Mercedes Benz first came out with these certified programs for used cars, but the trend has trickled down to the manufacturers and sellers of more affordable models.

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