It is tough to make a decision whether to buy a new or pre-owned vehicle. 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. The value of a new car drops once it is taken out of the showroom and driven around. It is estimated that on average, the value will be 54% of the price you originally bought it. Well this is bad So, in essence, the average price of a used car will be lower than that of a brand new model. In addition to this, you will end up paying less on taxes and the insurance too. Don’t however, forget to check on distance and mileage point as well as the warranty as this will impact on the cost of maintenance.
Financing rates and terms is another issue. 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. These companies offer lower rates and additional warranty as well as extensive car inspections. Since there are so many attractive financing options for used cars, the advantage of purchasing brand new cars is continually waning.
Another factor in play is the history report of the pre-owned vehicle. The fact that you may not know where a used car may have been or what it may have been through is an unsettling factor. You should not worry though because tools like CarProof can easily help settle your mind on this issue. Thus you are able to get a clear insight into what you are realy getting into. 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.
Reliability is another concern. Sometimes you think it may be risky buying a used car due to reliability concerns. Several studies show that the average car on the road is over a decade old and the number keeps going up as manufacturers work hard to enhance their line-ups. Modern cars, SUVs, and trucks have a longer lifespan and that’s an advantage for you if you are looking to buy a used car.
The prospects of purchasing a brand new vehicle are high and the thought attractive but you can’t deny that used cars give a better value.