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Why should I buy a used car instead of new?

The age-old question of going new or used for a new car. Let’s answer this quickly.

For the short answer, if you’re looking for the most value, going used is smarter. As for the long answer, well this article will provide more detail.

Lower Costs

One of the big reasons behind this sort of attitude stems heavily from something called depreciation. Generally speaking, a car will take a 20% hit of depreciation (lowering the value of the car) as soon as the car leaves the lot. This means that if you return the car a few months or even near the end of the first year, it’ll be roughly 30% cheaper than it was when you bought it.

Also with this in mind you’ll be saving money in insurance costs. Because premiums and insurance is based solely on the value of the car, your costs will be lower. From year to year.

More Coverage

Now one thing a lot of people could argue is that used cars will lack the security features that other newer cars have. While that is quite true as there are some differences between new and 3 year old cars, this argument is rather moot by this point. The big reason why is due to the emerging certification programs companies have placed together.

In essence, what these certifications are designed to do is to provide the same kind of perks a new owner of that vehicle would enjoy. After all since buying a newer vehicle will garner higher security it doesn’t make sense to buy cheaper and get no coverage at all and having to pay for it.

This gives an incentive for more people to go used since you are virtually buying the same thing by this point.

Great Reliability & Maintenance

Cars have been built to last longer than ever before now. Early on, it made no sense to go used. These days though, it’s not out of the ordinary for cars to hit the 100,000 mile mark before having the need for repairs. With this in mind sure you’ll hit the mark faster if you are getting it used, but it’s still a far way away from serious repair. You can use it for years to come and get your money’s worth.

Even in the cases of early repairs or maintenance, the thing is, since parts last longer, the need for repairs and maintenance aren’t a common occurrence.

Variety & Access To Luxury Cars

There is often a wide selection of vehicles to pick from which provide a variety of advantages. Some models don’t exist any longer so it can be wise to pick up a long-lost vehicle. What is also key to note is that luxury vehicles, while used, will be cheaper. Thanks to depreciation, the value will have sunk at least 30%. As a result you can afford to buy luxury vehicles and not get hurt as quickly and as painfully as buying the car brand new.