Buying a car is very exciting. Many people look forward to the day when they can get a new car. However, if you aren't careful, you can easily overpay on your car and get something you are not happy with. One of the best options out there is a pre-owned vehicle. Here are some of the benefits of buying a used car.
1. Better Deal Up Front
The most obvious reason to buying a used car is that you are going to save a lot of money up front. If you buy a brand-new car you are paying a lot more money, simply because you want something that no one else has driven. The dealers are less likely to negotiate the price on a brand-new car, but on a pre-owned they are willing to give you a deal to move inventory.
If you have a limited budget, you should consider buying used. You can even buy a couple years used and it will make a huge difference in what you pay.
2. Great Re-Sale Value
A used car has a better resale value than a new car. If you buy a brand-new car, the moment you drive it off the lot, you lose money. You are paying to be the first to drive it, so if you try to turn around and sell it, even a month or two later, you still won't get out of it what you paid for it.
With a used car, you are purchasing the car when the value is truer to what it is worth. So if you turn around and sell it, it won't drop significantly in cost. This means that the car will hold its value better and you won't lose as much money when you try to see it later.
3. Cheaper To Insure
Lastly, a used car is much cheaper to insure. When you insurance provider calculates how much you owe in insurance, they will do it based off the year and model of the car. The newer the car and the higher the appraised value, the more it will cost to insure. Brand-new cars will be far more to insure than a used car. This means that you not only pay up front for a brand-new car, but you pay more every month in your insurance premiums.
As you can see there are many ways that buying a used car can save you money.