What Are The Benefits Of A Used Car?
When many people think of a used car, they picture an old clunker that is sitting on the corner of a car lot collecting dust and perhaps rusting out. The car will have an inexpensive price tag and it may also have a few dents and dings in the body work. They may even picture a frumpy salesman that is determined to unload the car. However, that image is very outdated thanks to certified vehicles.
If you want to save a bundle you may wish to check out a certified vehicle. A certified vehicle is one that will look brand new and has undergone a certification process. Many rental car agencies sell off their old cars in this fashion so that they can keep only newer models in stock.
By choosing a certified vehicle you’re going to gain a lot of benefits besides the money savings of approximately $20,000. It is amazing how fast money can add up when you’re looking at a car purchase.
Lower interest rates are also a plus. If you’re buying the car on a payment plan you’ll enjoy a lower interest rate and pay it off more quickly than you would that of a new car. You may even be able to afford the car outright without requiring a payment plan if you choose a used car.
The moment a new car drives off the lot, it begins to depreciate in value. Many cars lose up to 40 percent of their value in the first year alone. Used cars don’t have that depreciation so there is less concern about keeping it in perfect condition.
New cars are also more expensive to insure. You’ll likely need comprehensive and collision on a brand new car. Many older cars don’t require this type of insurance unless they are being financed. Even then, they won’t cost as much because the finance amount will be a lot less on a used car.
Dealerships all have fees and when you choose a new car those fees can add up quickly. They will charge such fees as processing, licensing, dealer prep and so on and pretty soon you’re up to $1000 in fees alone. A used car won’t have nearly as many fees and in many cases, it won’t have a fee at all.
When you choose a used car you’ll also have more options. Newer cars tend to come in limited editions while older cars have a wide variety of choices.
You can also check a used car online to see if it’s ever been in a collision. There are many sites that will give you this information and you can readily check to see if you’re paying a fair price for the car.
Customized cars are going to be more expensive but a customized used car is still less expensive than a customized new car, especially if you happen to find one that you already like and won’t have to make any changes to. Buying a used car makes more sense than buying a new car when you consider these benefits.