Buying a brand new vehicle or a used one can be a tough decision to make. New vehicles come with latest style, low interest rates, exciting tech features but when it comes to the budget it may not be the friendliest choice for you. Discussed below is an outline of some information about used cars that might be of help when you want to purchase a pre-owned vehicle.
One, pre-owned vehicles are much cheaper. When a new car is taken out of the shop, its value definitely drops. On average the value of the car would be 54% of the original purchase price. That is annoying. Therefore the average cost of a second-hand car is below that of a new model and that’s not all. Moreover to insure a used car and the cost of taxes involved would be much cheaper. It’s however important to consider factors such as mileage and the remaining warranty since it will influence the maintenance budget.
Another concern is financing terms and rates. For brand new models, there are financing deals which are attractive. Don’t be carried away and forget to do the math though. The growth of certified programs on pre-owned goods has almost bridged the gap. The companies give lower rates, vehicle inspections that are extensive and also a bonus on an extended warranty. Since there are so many attractive financing options for used cars, the advantage of purchasing brand new cars is continually waning.
Another thing is the history reports of the vehicles. You may hesitate to buy a used car since you don’t know where it has been or other security reasons. However, there is no need to worry since there ar tools in the market to help you get a transparent report like CarProof. You can therefore get all information you need to settle your mind. The history report may not carry all the information you need but it also provides you with the necessary major information. Such information includes, the number of previous owners, damage history details, registration, mileage, distance and maintenance records and so on.
The last factor involved is reliability. It is natural to feel unsure about the reliability of a pre-owned vehicle. It is quite settling to know that research has shown that your average car being driven out there is over a decade old, and this number will go up because companies keep on enhancing their models. Vehicles like SUVs, trucks and modern models last longer so it’s beneficial if you are looking topurchase a prowned vehicle.
Sure thing that the prospect of buying a new car that hasn’t been used before is great but it’s also true that pre-owned vehicles offer a better value.