When looking for a new car, buying a brand-new model straight from the dealership can be tempting. After all, who wouldn’t want to drive off in a shiny new car with that new-car smell?
But there are plenty of reasons why buying a used car might be a better option. Here are ten of them:
1. You Can Get a Better Car for the Money
If you’re on a budget, you’ll likely be able to get a nicer, higher-quality used car for the same price as a stripped-down new model.
2. Used Cars are Cheaper to Insure
Because they’re not worth as much as new cars, used cars are generally cheaper to insure. This can save you a significant amount of money over the course of a year.
3. Used Cars Don’t Depreciate as Quickly
As soon as you drive a new car off the lot, it loses value. On the other hand, a used car has already undergone its biggest depreciation hit, so that it won’t lose nearly as much value over time.
4. You Have More Bargaining Power with a Used Car
When buying a used car from a dealer, you have more negotiating power than you would if you were buying a new car. This is because dealers are more motivated to sell used cars than new cars.
5. You Have More Financing Options with a Used Car
If you’re looking to finance your car purchase, you’ll likely find better interest rates and terms on a used car loan than a new car loan. This is because used cars are less of a risk for lenders.
6. You Can Buy a Certified Pre-Owned Car
If you want peace of mind with buying a new car but don’t want to pay new-car prices, you can look for a certified pre-owned (CPO) vehicle. These are late-model used cars that have been thoroughly inspected and come with extended warranties.
7. Cheaper Registration Fees
You’ll pay lower annual registration fees for a used car in some states than a new one. This can add up to significant savings over the years.
8. Fewer Repairs and Maintenance Costs
New cars have more problems and require more frequent repairs than older models. You’re less likely to run into unexpected repair bills with a used car.
9. More Car Choices
When shopping for a used car, you have many more options than if you were shopping for a new car. This is because more used cars are on the market than new ones.
10. You’ll Be Helping The Environment
When you buy a used car, you keep an older vehicle out of the landfill. And since producing a new car requires more resources than producing a used one, buying a used one is better for the environment.
Buy Used and Save Big
As you can see, there are plenty of good reasons to opt to buy a used car instead of new one. All in all, they simply tend to offer drivers a better deal than buying new in most cases.
So if you’re in the market for a new ride, be sure to give used cars a look. You might find the perfect vehicle for you — at a price that’s easier on your wallet.
