Wondering whether to buy a new or used car? This can be a tricky call as there are benefits and drawbacks to both, and, ultimately, it will depend on your individual preferences and circumstances. In most cases, it makes more sense to buy used, and you will find that there is a range of benefits to shopping in the used car market. While some will be daunted by the idea of buying second-hand, you will find that it is a great place to buy a car when you know how to navigate the market and avoid common scams. With this in mind, read on to discover why it makes a lot of sense to buy used.
Cheaper & More for Your Money
The most obvious benefit of buying a used car is that they are a lot cheaper than buying new. This also means that you can get more for your money, so you can find a better model than if you were to buy brand new. Buying any kind of car is always an enormous financial decision to make, and, for many, buying new simply will not work and could create financial difficulties.
You Can Avoid the Biggest Depreciation Hit
The other major financial benefit of buying used is that you can avoid the biggest depreciation hit. If you were to buy new, the car would start to lose value as soon as you drive off the lot and as much as a third after just one year. New cars often lose over half their value after three years. This means that you will take an enormous financial hit when you sell the car, which is why it is smarter to buy used, as the rate of depreciation slows after three years (this is why it is best to aim for a car around this age).
Variety
Thanks to the internet, the used car market is enormous, and you can browse cars for sale all over the country. This makes it much easier to find what you are looking for and secure a great deal. You can then use a car shipping service and compare quotes with an auto transport specialist – this will help to keep your costs down and give you peace of mind knowing that your car is being shipped by an experienced and reliable company.
Cheaper Insurance
You should also find that it is much cheaper to insure a used car than a new one. This is because new vehicles will be worth a lot more and, therefore, more expensive to replace. Car insurance can be a major cost, especially for new and/or young drivers, so buying used is a smart way to keep your costs down.
These are a few of the main benefits of buying a used car instead of a new one. Financially, it is the smarter move in the short and long term, but you will also find that you can get more for your money, and it should not be too hard to find what you are looking for.
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