Two of the most expensive assets that you’re going to own in your entire life are your house and your car. You may be reading this because you’ve already got your home all sorted out. But now, you’re facing the need to buy a car.
One of the very first things that ever come to mind when purchasing a vehicle is that it always has to be brand new. There was once a bias that buying used cars will only cause you more considerable expense in the long run.
While this may be true, there’s now more protection in place to ensure that buying a Honda used car can be just as good as buying a brand new one.
Here are the benefits of buying used cars:
1. It’s Friendlier On The Pocket
This first advantage is a no-brainer. Buying a used Honda car will always be a cheaper option than buying a brand new one. Not all car buyers are doing so with a hefty amount of budget on their minds. Some of you may be financially constrained, but you need that car right now.
Another benefit in terms of cost is that with used cars, you’re usually charged little to no sales tax at all. Especially if you’re buying directly from a private seller, often there isn’t a sales tax charged. If you buy a brand new car, this sales tax amount automatically comes in on top of the value of the vehicle. When you’re on a budget, this means an added financial burden. With a used car, you get to avoid paying for this additional expense.
One crucial piece of advice for you to remember when buying a car is this. Don’t go broke to afford your Honda. It isn’t going to be worth it. Always choose the option that you can afford. After all, this isn’t an asset that gets to increase in value, such as real estate. It’s going to depreciate. If you’re limited on your budget as of the moment, buying a used car is your best option.
2. It Has Lesser Depreciation
Did you know that when you buy a new car, by the time you take it home, it will automatically be considered as “used”? Hence, right there and then, around 20% of the car’s value is lost on depreciation. That’s an amount that you’re still paying for. Hence, if you re-sell the car, you’re always on the losing end.
Therefore, it’s safe to say that buying a used Honda car is a more economical option. You’re going to experience lesser depreciation on your car. In essence, you’re more practical as well. Wouldn’t it be helpful for you to know that you’re not paying for an amount of the car that is, in fact, already depreciated?
3. It Now Has More Certification
This section refers to one of those positive proofs and reasons as to why buying pre-owned cars can now be better. Indeed, gone are the days when you’d say that buying a used car would only mean taking in the problems of another car owner. To encourage more car buyers, even second-hand vehicles now have more certification and protection. This refers to the “Certified Pre-Owned” Certification.
When the used car has this kind of label, it means that the vehicle has passed specific high standards of quality. This is especially proliferating with luxury car brands.
Examples of the benefits you can gain from this certification include:
- You get to enjoy better financing options on CPO cars
- You get to enjoy a higher sense of protection, such as later models and lower mileage
- You get to buy luxury cars at a lower price
- You get to enjoy the added warranty, on top of the car’s original warranty
If you visit a Honda City dealer in Watertown, you’ll also find cars with this kind of certification.
4. It Gives You Lesser Registration Fees
Car registration fees are usually assessed depending on the value of your car. Hence, the cheaper your car, the lower the price that you’ve got to pay for. The rate of car registration is usually at its peak during the first three years of a car.
Usually, second-hand Honda cars are already often in their fourth or fifth year. This means that by the time you take over its ownership and registration, your fees will already start to be dramatically lower.
If you’re on a budget, buying a used Honda car can work very well for you. If you’re very careful about your purchase, this can do you very well economically, too.
If you’re from Watertown, you’re in luck, as there are numerous used Honda car dealers that can help ensure you’ve got all the protection you need for your purchase.