When buying a new car for either yourself or for your family, it’s important not to dismiss the option of buying a used car. This is because there are many different benefits to buying used that you may not have been aware of. Used cars can get a bad reputation due to how some buyers may end up with vehicles with undisclosed faults and issues, however, if you’re sensible, use reliable dealers and put in the effort to ensure you don’t get tricked, then buying used is a really great option that can save you a lot of money both when you purchase the car but also when you’re using it too.
You also don’t have to compromise on quality when buying a new car, as even relatively new, year-old models can have their prices slashed by up to 25%, providing they’ve racked up 10,000 miles. As well as this, here are some of the other benefits of buying a used car that you would not believe.
You Can Pay Off Used Cars a Lot Faster
Due to how used cars are on average 50% cheaper than newer cars, this means that you’re able to pay off your car through monthly repayments a lot faster than usual, which can help save you money and financing fees while also boosting your overall budget. Furthermore, if you’re happy to spend longer paying back your car, you can spread the monthly repayments over a greater period of time, reducing the amount you’ll need to pay each month, which can make it even more affordable. As the average car owner updates their vehicle every six years or so, buying a car this way means that you’re far more likely to have paid it all off by then, allowing you to use the car freely and even get a new vehicle sooner than that average if you fancy. To see what you can afford, used cars are being price-checked on Autouncle right now.
No Hidden Costs
When buying a new car, many retailers try to entice buyers with incentives and deals that can make it appear to be greater value for money. However, despite this these cars usually have a lot of additional costs that a buyer may not have been aware of such as shipping charges, destination fees and dealer preparation. This means that when buying a new car, you’re almost certainly never paying the advertised price.
On the other hand, used cars are very much ‘you get what you see,’ and thus most don’t seem to have any of these crazy add-ons, making for a more transparent and easier to negotiate deal. Some used car dealerships may have something that is called a ‘doc fee’ but this is never more than a couple hundred dollars and is significantly less than the hidden charges on a new car that can easily add another $2,000 onto a purchase.
Lower Customization Costs
When getting a new car from a dealership, you’ll usually have to negotiate for pricey add-ons and features when buying the car, and depending on the manufacturer, you could be splashing out on ‘extra features’ such as a car radio and USB ports, stuff that are essential in modern life.
When obtaining a used car that’s second hand, you may not be able to find a car that has all the features you want, however with the money you saved you may be able to get customizations installed to your vehicle at a lower cost, allowing you to really personalize your vehicle and make it your own.
They are Thoroughly Inspected
When getting a used car, be sure to do it through a respected and well–trusted dealership that offers Certified Pre-Owned Vehicles. This is because for cars to obtain this status they need to have been thoroughly inspected by a mechanic and deemed in good enough condition to be sold. This means that cars sold under this label are certified to be good quality and are also highly unlikely to get any faults or issues early in your ownership. As well as being inspected, many certified cars have also been refurbished and fine-tuned to make sure you get that new car feel, even if it is a few years old.
To further make sure that your car is in good condition, and to increase your peace of mind, good dealerships will allow you to take the car out for a test drive, so not only can you get a feel for the car, you can also use that time to be on the lookout for any rattles or issues. Even if you’re buying a car that isn’t certified, most dealership will also allow you to take the car to a mechanic to get it inspected – some might even pay for it – so that you can fully trust the car and ensure that your getting a reliable vehicle before making the deal.
Warranties
Some used cars still have part of their original warranty, while others have the option to create a new one. This means that when getting a used car, you can have peace of mind in knowing that if there are any faults or issues, you can get them sorted without breaking the bank. Furthermore, depending on the type of warranty, you can get factory trained technicians to do the repairs to your vehicle, meaning that you’ll receive a speedy service all while getting the best quality parts. Furthermore, the money you’ve saved through buying can be put on in creating an awesome warranty, such as one that lasts well over 100,000 miles.
Lower Insurance
Due to the lower value of your used car, it can mean that you’ll get cheaper insurance premiums due to the vehicle being less expensive than a brand-new vehicle. When you’re involved in an accident or crash your insurance pays out the value of your car at the time of the incident, leaving a gap between the purchase price and its worth. To sort this, there’s a thing called gap insurance, which pays the difference, however, getting this makes your insurance more expensive. When getting a used car, there’s no need for gap insurance as deprecation of your vehicle has already occurred.