If you’re in the market for a new car, you might be torn between buying a new one or going for a second-hand option. There are several advantages to choosing a pre-owned vehicle, and we’re here to tell you why it might be the right choice for you. Whether you decide to follow this route or buy new, it’s good to have the right information to make an informed decision!
Cost-Effective (Depreciation of Value)
First and foremost, buying used is often much more cost effective than investing in something brand new. This means that if you’re on a budget, you can still get a reliable vehicle without breaking the bank. You may be able to upgrade to a higher-end model that would have been out of your price range if it had been brand new.
Why is it cost-effective? Well, did you know that new vehicles lose an average of 60% of their value after the first five years? As soon as you drive a new car away from the dealer or manufacturer, it will never be worth the amount you paid again. Alternatively, second-hand cars are further down their value spectrum and will maintain a higher percentage of the amount you paid.
Lower Insurance Costs
When you purchase a used vehicle, your insurance rates are generally lower than if you invested in something brand new. This is because older vehicles have a lower market value. That being said, your insurance costs may vary depending on the make and model of the vehicle you choose – so it’s worth doing some research beforehand.
Stronger Resale Value
Another advantage of buying a used car is its resale value. If you don’t plan on keeping your car for years to come, or if you like to switch up vehicles every few years, reselling a pre-owned car is much more simple than selling a new one. While the depreciation of value may be steeper for the latter, cars that are already second-hand will only experience further drops in value over time – meaning they often hold their resale value quite well.
High Quality
Let’s face it, the days of second-hand cars being beaten and old are long gone. Over the last few decades, car manufacturers and dealers have upped their quality standards significantly when it comes to pre-owned vehicles, so you don’t need to worry about high mileage or bad condition.
What’s more, people tend to trade their new cars in earlier than before, so you may be able to buy a car that hasn’t seen much use. Also, many dealers offer warranty programs which means you’re covered in the event of any malfunctions or issues – giving you some peace of mind. Just look at Cars4Us in Blacktown and you’ll see that the quality of second-hand cars is better than ever before.
Wide Variety
When buying a used car, you’ll be presented with a much wider variety of models than purchasing something brand new. This means that you have a lot more choices when it comes to finding the perfect vehicle for your lifestyle and budget.
Ultimately, making an informed decision about which car to buy is key. Whether you decide to go for something brand new or pre-owned, make sure to do your research first. As we’ve mentioned above, there are plenty of options these days, so don’t think that a second-hand car is the lesser option!
