According to research, 69% of Americans are willing to purchase a used vehicle. But maybe you’re not quite convinced used is the way to go.
Before you spend a small fortune on a brand new car, make sure to read this article! Below, you’ll find out about five of the biggest benefits of buying a used car — and how they can save you money.
So be sure to keep reading!
1. Used Cars Are a Bargain
The average new vehicle costs almost $38,000!
Unless you plan on eating ramen for the next few years, spending that much on a car just doesn’t seem feasible.
In direct contrast, however, used cars are a much better value. The average used car markets for around $20,000.
It’s still a lot, but a savings of $18,000 is nothing to balk at.
2. Your Credit Won’t Prevent You From Making a Purchase
If you have less than stellar credit, you might find it difficult to get financing for a new vehicle. And if you do manage to get financing, you can expect a higher final price tag, as well as larger interest rates.
Most used car dealerships understand that life gets in the way of perfect credit. As a result, it won’t be hard to find a used car dealership willing to work with you to find a great rate — regardless of your credit score!
3. You’ll Still Get All the Bells and Whistles
Watch an advertisement for any new vehicle and you’ll see all sorts of impressive technical features like in-vehicle WiFi or direct phone integration. As cool as these features are, they add to the total value of a new vehicle, making their costs skyrocket.
If you choose to buy a used car, however, you’ll still get all of these great features — and you’ll still save money!
You can use the money you’re saving to upgrade to a newer model and you’re still paying a fraction of the cost of a new car.
4. No Need to Feel Guilty About Depreciation
We’ve all heard that a new vehicle loses value as soon as you drive it off of the lot. But do you know just how much value it loses?
By the end of the first year, your vehicle will lose between 20% and 30% of its value. And keep in mind, that’s assuming you’re a perfect driver.
Since used vehicles are, well, used, their rate of depreciation is much slower. So you won’t have to feel guilty when you buy a used car.
5. Vehicle Reports Give You More Power
The amount of research you can do on a brand new vehicle is rather limited. You may be able to do a quick Google search to learn of any recalls or read customer reviews, but that’s about it.
When it comes to used vehicles, you’ll have access to online vehicle reports. By running the vehicle identification number (VIN), you can get a full list of the car’s accident history, maintenance records, and more.
This alone is a huge point in favor of used vehicles, as having access to a vehicle report can help you avoid buying a used car that turns out to be a dud.
Experience the Benefits of Buying a Used Car for Yourself
As you can see, buying a used car is a smart move any way you look at it.
But you don’t have to take our word for it. Head to your local dealership and explore the benefits of buying a used car firsthand! And don’t forget to check back with our blog for even more helpful tips.
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