Are you considering buying your next car? Has the time on your current one run out or is it running out in the near future? Well, this is the perfect time for you to consider buying a used car. That’s right, it would be better if you decided to buy your car used and not new. Why? Well, the biggest reason is that it will save you money and keep money in your wallet and your bank account. To break that down even further, here are 5 reasons why you should buy your next car used instead of getting it new.
- Lower Prices
We will get straight to the point. You can save money if you buy a car used instead of new. That’s just a fact. It’s also a fact that of experts will tell you and repeat constantly. The reason for this? Your car depreciates as soon as you buy it.
Imagine that you go out to buy your next car from a chevy car dealership. Then imagine that you buy a new car and drive it off of the lot. Congratulations, the worth for your brand new car has now lowered by 20 percent. Then a year down the line it will go down another 10 percent. By three years the price could actually drop to around half of the worth that you paid for it. This is all to say that since the price of these cars are being lowered anyway, you might as well benefit from it by buying one of those lower priced used cars in the first place.
- Vehicle History
Keep in mind that when you buy used cars you also have the option of finding out more about the car than you could if it was new. You can research information such as the number of owners that had the car before, if the car had been in any accidents and its repair history, and you can even find out how many miles have been driven on the car. By using services such as Carfax and AutoCheck you can know your car intimately before its even your car. With new cars buying is like fishing in the dark.
- Lower Your Insurance
In addition to that, you do not have to worry about high insurance rates if you buy used. The reason for this goes back to the fact that the cars worth is lower than if you bought a new one. When figuring out the cost of insurance, agents typically look at the value of the car. If the value is lower, so too will be the insurance. In addition, you may even get to take away parts of the insurance coverage that would have to stay if the car is newer. All of this keeps more money in your wallet.
- Lower Registration Fees
Adding to that is the idea that you don’t have to worry about registration fee prices being high either. This, of course, is dependent on the state in which you are living in and the cost of the car. That said, most states keep registration fees low if the price of the car was low. This is another way that you can save some money and shave off some of that money from the cost of a future car.
With all of this said, you may be wondering if all of it is worth it. You may think that if you buy a used car, the car may break down before you can even finish paying it off. Well do not worry, used cars are lasting longer than they did a few decades ago. IHS Automotive stated that in 2015 the average car in America lasted about 11 years. You can buy a used car and know that the car can still last you many years from now. If you have kids, it may end up outlasting them as they’ll move out of the house way before it expires.
When it becomes time for you to buy your next car, you don’t want to have to rob a bank to afford it. The easy way to ensure that is to look into used cars. It’s cheap, easy, and expert approved.