Owning a car is a dream nurtured by many since childhood. When you have decided to buy a car the first option to consider is whether to buy a new one or a used one. People are opting for used cars in the wake of unprecedented increase in the prices of new cars. With the economy going down it is a smart and sensible choice to buy used cars. Buying a used car is generally a better deal if you are desirous to make substantial savings of your money. Moreover it is a good investment and there are lots of used cars available in the market today.
Benefits of buying used cars:
Though the pleasure of driving a brand new car is undeniable and inexplicable in words it makes more financial sense to opt for the second hand ones. Basically new cars are quite expensive and getting it financed through a lender can be a tedious process. The following are the amazing benefits of buying used cars.
- Substantial money savings in the greatest benefit of buying a used car. Buying a second hand car is highly beneficial especially when you dream of owning a luxury model which you cannot afford otherwise. Opting for a second hand car means that you can afford a model with more luxury performance and features at unbelievably half the price.
- Used cars are in fact more reliable and appealing these days as some available are still under factory warranty. The original factory warranty is also transferable to the next owner and hence you can enjoy extended benefits. Late model cars tend to be more reliable, implements more safety features and equipped with more convenience and comfort features.
- Car depreciation is like a black cloud hanging over new purchases. A new car loses 15% of its original price the moment it leaves the showroom and 40% of its value in the first year. When you buy pre-owned cars someone else has already taken the big hit of depreciation and as it gets older the depreciation is also considerably less for you.
- For a second hand car you have to pay considerably a less amount of insurance.
- Another amazing benefit of buying a pre-owned car is the ability to adapt to the budget of your choice.
- As pre-owned cars are relatively cheaper you can widen the selection of cars you can purchase.
Tips on purchase of used cars:
- Thoroughly learn the history of the car. The VIN number will enable you to track any major accidents or repairs incurred prior to your purchase.
- Take the car to you mechanic for a thorough inspection to reduce risk of ending up with a car with too many mechanical problems. The mechanic will also give you a clear picture of the performance of the car.
- Make sure to get the agreement on paper with all the necessary terms and conditions. Ask the dealer for his identification and relevant certificates to check that he is legit.
- Take the car for a test drive to ensure that the engine starts rightly, the steering does not vibrate and there are no unusual sounds.
- Check for any scratches or minimal damages of the exteriors because it might spoil the look of your car.
- Used cars are a good investment. Looking into the above details will ensure that you get the best deal out of your used car purchase. Buying a pre-owned car can be a challenging and daunting task for the inexperienced. Hence a thorough research will enable you to locate the right vehicle of your choice.
Tony Buchanan is a passionate blogger, freelance writer and a regular contributor to several blogs.
He loves reading news and sharing unique articles through his contents. He currently writes for Cash For Cars Brisbane, a specialist cash for cars service based in Brisbane, Australia.