Need a new car? 4 reasons to shop used
When it comes to shopping for a new car, the age-old question is whether or not to buy new or used. For some people, a brand-new vehicle represents the epitome of style, taste, and value, while others see new models as being overpriced and filled with unnecessary gadgets.
But what often gets lost in the debate are the issues beyond mere price: there’s no question that you can get a better price on a used model, but is that the only reason why it’s worth passing up on something new, or are there other advantages.
In this blog, we’ll be looking at four of the less obvious reasons why it can be worthwhile to buy a used car rather than opting for something brand-new.
1. Better Brands
Who doesn’t want to own a Lincoln, Audi, or BMW? For most of us, the prices on brand-new luxury cars and SUVs are simply prohibitive, but if you are willing to buy a model that is a few years old, they can actually be quite affordable.
There is a common perception that a used car is a cheap car, but a 2017 Mercedes-Benz GLA 250 and a brand-new Toyota RAV4 are comparable in price — and a five-year-old Benz can hardly be considered cheap!
2. Slower Depreciation
It’s no secret that a car starts losing value as soon as you drive it off the lot, but there is a big difference in how much value a new car loses vs. a used car. According to industry experts, on average a new car loses 20% of its value in the first year, and a further 15% after each successive year.
Because depreciation happens more slowly after the first year, buying a two-year-old used car that is still in good working order will be 35% cheaper than buying the same model brand-new, and will lose a lot less of that value in the years to come.
3. Lower Insurance Rates
Because a new car is worth a lot more in the beginning, it is also more expensive to insure — especially if it is Maserati, Tesla, BMW, or Audi.
If you have your heart set on a luxury brand, then buying used won’t just save you money at the dealership, it will also save you money every subsequent month due to lower premiums.
4. More Financing Options
Because most people can’t simply put down tens of thousands of dollars in cash to buy a car or SUV, financing plays a major role in determining where people shop and what they buy.
Used car dealerships offer an extensive range of options for financing, and some, like Autorama, even partner with banks and other financial institutions to provide financing deals tailored to the needs of buyers.
More most people, buying a used car simply makes financial sense. But this doesn’t mean you have to settle for a modest vehicle that you aren’t excited about. Used car dealerships offer an expanded range of makes, models, and brands, which means that buying used might be the key to getting behind the wheel of your dream vehicle.
