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Key Benefits of Buying a Used Car

Buying a vehicle is a serious and expensive purchase, which is why you have to take your time and do an extensive research before you decide what car to buy. There are lots of things you have to take into consideration, including price, specifications, auto insurance, and payment methods. When looking to buy a car, a lot of people are faced with the dilemma of buying a used one versus a new one. Maybe a new car seems like the obvious choice, but there are some very significant benefits of buying a used car, related to price, maintenance and insurance, which should be taken into account by everyone who believes that new vehicles are the better option.

The main, and most obvious advantage of choosing a used car over a new one is the lower price tag. If you decide to buy a used one, you can get a pretty good model with great performances, at a very low price. For example, you could buy a used sports car that cost more than $80,000 a couple of years ago, when it was new, for as little as $40,000. This is because new cars lose much of their value the minute they leave the dealership.

Talking about depreciation, used cars are not affected by it as much as new ones are. New cars lose most of their value during the first two or three years. If you buy a used car, you don’t have to worry about it losing much of its value, since it already depreciated a lot when it was first sold as a new vehicle. This way, when you decide to sell the used car after a couple of years, you will be able to sell it at a price that will be pretty similar to the price you had bought it at.

Another reason why you should consider getting a used cars is the lower registration fee. DMV’s charge less for registering cars that are more than five years old, and you can save a couple of hundreds of dollars a year that way. Also, used cars are not subject to sales tax, which, for new cars, is as much as 7% of the purchase price.

Lastly, insurance for used cars is cheaper compared to new cars. This is because a new car is more expensive and has a higher value, and it costs more to replace parts and repair it in case it gets damaged in a collision.

In conclusion, owning a new car does have a lot of obvious benefits, but owning a used car has its own advantages, too, and you should consider this option before making your final decision.



Source by Jordan Perch

Benefits of Buying Used Cars

Having a car is a privilege and a responsibility. It ensures that one will have reliable transportation to a job and virtually wherever else they would like to go. New vehicles are desirable for obvious reasons. The shiny appeal of something never played with by anyone else, the fresh paint, the latest technology, and the impressive modern accessories all add to the allure of an untouched automobile.

What might be less appealing is the price these days. Reports show that the typical American cannot afford the average price of a new car in 24 out of 25 of the nation’s largest metro areas. The rising price doesn’t make having this mode of transit any less necessary in most pockets of our society. An impressive 85% of the workforce in this country uses personal transportation as the primary way of getting to their place of occupation. Used cars are more than just a previously worn vessel. They are an opportunity for someone who cannot afford the most recent addition to the lot to experience freedom and mobility.

Getting the Most for Your Money

It is no secret that vehicles depreciate rapidly. The original owners get to experience this first hand as they watch the appraised value of their cherished purchase diminish quickly (10% in the first year). Buying a used car eliminates this component of the ownership process. If it is still relatively recent, the devaluation will probably not be detectable in the physical features. Registration fees are also usually lower, saving even more money.

A Comfortable Way from A to B

While all-new everything can be attractive, it can also wreck one’s nerves. Buying a clean, well-maintained pre-owned vehicle can ease this tension. Drivers of used cars should still take pride in their ride, but it makes things easier knowing that any mishap will not likely be the first.

Insurance Benefits

Depending on age and history, insurance can be one of the more costly responsibilities associated with driving. Deciding to go with a previously loved set of wheels can relieve this burden. The comprehensive, theft, and collision coverage rates will be lower for used cars. Of course, it is important to take into account just how weathered it is. Older models might have higher insurance costs due to lack of certain safety features. Then there is the exception of what one might call an “ultra used” automobile, meaning those that qualify as antiques, which are eligible for a completely different type of coverage.

While is it almost essential to normal professional and social life to have a means of transportation, it is not necessary to buy the latest product of the auto industry. Weigh your options to save your wallet and your peace of mind.



Source by Ace Abbey