In today’s world, owning a private vehicle has become somewhat of a necessity. In fact, in America alone, over 90% of households own a car. Having a car has surpassed being a luxury and is more of an essential amenity. A car makes it a lot easier to run errands, commute every day to work, take kids to school, and so on.
However, just because a car has become an indispensable household asset doesn’t mean everyone can easily afford it, like healthcare. A new car can end up costing nearly $40,000, and the prices continue to rise.
Thankfully, buying a new car is not the only option if you’re on the market for a vehicle. Buying a used car is an attractive alternative that offers the best of both worlds- cheaper cost and functional transportation. If you’re on the fence about purchasing a preowned car, take a look at some reasons why it’s the right choice for you.
- Lower Cost
The most obvious and appealing advantage of buying a preowned car is the cost. As previously mentioned, a new car will make a huge dent in your savings. You can buy a used car at 50% of its original price.
- Slower Depreciation
Did you know that your brand new vehicle immediately depreciates a significant amount as soon as you drive off the dealership? For a used car, most of this depreciation has already occurred.
- Avoid Extra Fees
The cost of new cars often includes shipping fees and sometimes hidden charges like advertisement fees. You can avoid all such expenses by purchasing a second-hand car.
- Option to Buy Unique Models
Did you always dream of buying a particular car, but it’s no longer in production? Well, buying a second-hand car gives you an option to choose from unique and even discontinued car models. And you can upgrade it with minimum effort. For instance, if you’re planning to buy an old Volvo model, you can buy Volvo parts at Partsgeek to customize it.
- Lower Insurance Cost
As a second-hand car doesn’t cost as much as a new one, you can save a considerable amount in terms of insurance premiums. Since the majority of the depreciation has already occurred, insurance won’t be as costly.
- Environmentally-Friendly Option
Manufacturing and shipping a new car generates carbon dioxide, which is taking a toll on our planet. By investing in a pre-owned car, you will be completely eliminating the need to manufacture a new one. Now more than ever, making this sustainable choice is imperative for the future of our planet.
- Thorough Inspection
You don’t have to go to a shady alley to purchase an old car. The second-hand car market is thriving, with several reliable and reputable suppliers. You can buy a second-hand car that is thoroughly inspected and certified. Several suppliers also offer warranties.
- Self Install Add Ons
Typically, new car owners pay the dealership for various add-ons. But with a pre-owned car, you don’t have to worry about ruining the visual appeal of the vehicle if you decide to install add-ons yourself. It’s a lot cheaper than paying a professional to do it.
- Smaller Loan Amount
Are you planning to take out a loan to purchase a car? If you buy a brand new car, you would have to borrow a large amount as well as pay more interest. You can buy a second-hand car with a much smaller loan, which will be much easier and faster to repay.
Even if you have the finances to purchase a brand new car, you should take a look at second-hand options before you make up your mind. And who knows, you may end up finding a great deal and save thousands of dollars!
