Are you looking to purchase your next vehicle, but don’t know where to start? We’re here to help!
When it comes to deciding between a used or new vehicle, we’re here to give you the tips and facts on why buying used may the best way to go. Are you on a budget? Or looking to save on some expenses? These are just a couple of reasons why buying used wins out every time over buying a new vehicle.
Read below to find out more tips on why buying used from a used car dealer can be the most beneficial and ideal tactic when you’re looking to purchase your next vehicle.
Why Buying Used is Better in the Long Run
There are a number of important factors that make buying a used vehicle from a used car dealer a better investment than buying new.
Inexpensive Price: We all know that used cars are going to be less expensive than new cars. Used cars have miles on them and are older than brand new models, which means they are going to be a lower price than any brand new vehicle. You may ask – but isn’t paying more for a brand new car, with no miles, worth it? Not necessarily. If you consider a 2016 model versus the 2018 model, there typically won’t be a huge difference in tech features and performance between the two. And on average, cars put on about 10,000 miles every year. So a 2016 vehicle, with only 20K miles, and at 25% or 30% less then a brand new model is a great deal. If price is an important factor for you, then a used car from a great used car dealer is a great way to go to save as much money as possible.
Depreciation: Unfortunately, as soon as you drive a new car off the lot, it begins to depreciate in value. If you try to sell that car a few years later down the road, you are going to be selling it for thousands less then you bought it for. That is a pretty hefty loss. When you buy a used vehicle, you won’t have to take as great of a depreciation hit. If you want to sell that same used vehicle down the line, it will not take as big of a hit as if it were a new car. Sometimes you can sell that used vehicle at the same price, or only $1000 lower (depending on how many miles and wear you put on it) then what you bought it for. This is another great advantage for used vehicles.
Used Vehicle Inspections: Almost all used vehicles should come with a rigorous vehicle inspection to ensure that everything is working properly. Especially if the vehicle is a Certified Pre-Owned vehicle, it should come with a multi point-inspection, a guarantee it has never been in a significant accident, warranty, and all of the details and Carfax about the vehicle. This vehicle should be like-new. Used car dealers want to make sure all their used cars are working optimally and functioning at the highest possible standards. This means that you can be confident that these used cars are not only a great deal, but also in great shape.
Lower Insurance Rates: When you buy a used vehicle from a used car dealer it should typically have lower insurance rates. When the vehicle costs less, the rates are less and therefore you are saving not only when you buy the car, but on your monthly car insurance as well. In addition, when you register your used vehicle, the registry prices should also be cheaper. This means you could potentially be saving thousands of dollars, not only in the cost of your next vehicle but on the monthly expenses after you buy it as well.
Benefits of a Used Car Dealer
Great Selection and Inventory – When you show up at a good used car dealership, you can rest assured that they are going to have hundreds of vehicles to choose from. This is one of the significant advantages when you visit a used lot as compared to, for example, a Honda or Jeep dealer – they’ll have a much larger variety of choices. Instead of choosing from a slim selection from a specific brand, a used car dealer will have models from all different sorts of brands, various years, and different trims and mileage. This means you can really hone your search, and make your decision based off hundreds of great, potential used vehicles.
Trade-Ins – When you go to a used car dealer, you can be reasonably confident that they will accept trade-ins. Trade-ins are a phenomenal benefit when it comes to used car dealers. When you can trade-in your current vehicle, you can put that money towards a new, used car you find on their lot, or trade it in for cash back. This means that used car dealers are a great one-stop shop, where you can value and get money back for your current car, or put that money towards a new, used vehicle you find on the lot. All in one stop, and with great deals and prices.
A Broad Range of Financing Options – If you’re looking to finance your vehicle, then your used car dealership is a great place to go. Most used car dealers will have their financial team onsite, who can help you with everything from laying out your budget, to recommending their national lenders. If you don’t have a great credit score, then they can usually do their best to still find you great rates and great loan options. At used car dealers, you can trust that they will do everything they can to make sure are coming out with the best deal, as well as the best, great-performing vehicle.
Still Wary of Buying from a Used Car Dealer?
Although we’ve presented the numerous benefits of purchasing your next vehicle from a used car dealer, its natural to remain skeptical. For this reason, it is important to find a reputable used car dealer near you and see what they have to offer today!