Are you in the market for a new car? If so, you might be tempted to simply run to the next new car dealer to take a good look at all the shiny new cars that are in stock, but you might want to hold your horses. While running out and buying a brand new vehicle might be tempting and seem like a really good idea, it pays to at least take sometime to really think about this decision and all that it involves. After all, buying a new car is a major investment and one that can have serious, long term consequences if a mistake is made.
If you’re in market to buy a brand new vehicle, then it’s worth considering the advantages to buying used cars. Sure, there are plenty of advantages of buying a new car, but that doesn’t mean that used car dealers don’t have anything to offer. In fact, quite the opposite! You might be surprised to know that the advantages to buying used cars often outweigh those of buying brand new cars.
For example, many people choose to buy brand new cars or lease new vehicles because they enjoy the feeling of driving or being in a brand new car. Come on, it’s a total ego boost! But is your ego really that fragile to the point where you feel as though you need to have a brand new car over a used one? Another reason why people commonly choose to buy brand new cars over used ones is maintenance costs. Many people assume that new cars are safer and more reliable than used cars, however this isn’t necessarily true. The majority of today’s used cars are just as safe as their new counterparts!
Here are a few other advantages to buying used cars over brand new ones.
The price is right-er
Perhaps one of the most obvious advantages to buying used cars over new is the fact that the price is so much more affordable. While you might feel fresh riding around in a new car that no has owned in the past, that smells like it’s fresh off the lot, that’s void of scratches or flows, and that has only a few miles on it, all those perks can break your piggy bank into pieces. Did you know that the average price gap between brand new and used vehicles can be as much as $20,000 if not more? Yikes. So ask yourself, is it really worth paying $20,000 just so you can flex on your friends and random strangers? Nope, didn’t think so.
Appreciate less depreciation
Of all the advantages to buying used cars, this is among the most obvious. Did you know that new cars lose a huge amount of their value immediately after you drive them off the lot? Furthermore, meticulous new car owners will become sorely disappointed and frustrated once normal and tear starts to happen, as it always does. Because of this, new cars can lose upwards of 40% of their value within the first year of ownership. On the other hand, there’s no such as depreciation when you drive off the lot in a used car. That’s because it’s already depreciated in value while the previous owner had it. There’s also less mental “wear and tear” in terms of always having to worry about scratches, dents, nicks, and dings that happen to every vehicle.
Variety, variety, variety
When it comes to buying brand new cars, there isn’t much to go around in terms of inventories. New car buyers are often limited to only the current or previous year models of cars, so there aren’t many choice when it comes to style. Used car inventory on the other hand is a lot broader. There are a seemingly endless array of makes, models, modifications, and styles to choose from. And just like how there’s good years for wines, there are also good years for cars.