The decision of whether to shop for a new or pre-owned vehicle is something many consumers struggle with. That’s likely because there are advantages to both options. While it can be exciting to be the first owner of a brand-new model, it may not be the most advantageous choice for you. In actuality, there are a lot of good reasons to buy a used car instead of a new one. Check out these six.
1. Less Depreciation
One of the primary advantages of buying a used car is the savings. You can save thousands on a comparable used model that’s only a few years old. The reason can be attributed to depreciation, which is the value that is lost in the early years of a vehicle’s life. By choosing a gently used model, most of the depreciation will have already occurred.
2. Lower Insurance Rates
Not only can you save a lot of money upfront on your used car purchase, but you’ll also continue to save each month on your insurance rates. Insurance companies determine monthly charges based on a number of factors. One of the biggest impacts is replacement cost. A brand new, more expensive vehicle costs far more to replace than a pre-owned one. With the high quality of modern vehicle manufacturing, a slightly used car can be nearly as nice as its newer counterpart. Why pay more every month for insurance when you can be just as happy with a less expensive vehicle?
3. Bang for Your Buck
Similar to the previous point made, why not consider a less expensive pre-owned model that has many of the bells and whistles on your wish list over the high cost of a new base model? For instance, used cars in Spearfish, SD, are long-lasting, offering reliability for years to come.
4. More Variety
Another great benefit to buying used is the sheer choices it provides. If you have your heart set on a new model, you might be significantly limiting yourself. After all, each new model year only offers so many vehicles. Plus, many will fall into the latest trends in color and design, meaning you might not be able to find the look you’re going for or the style you desire. Opening up your search to used models increased your chances of getting what you want at a price you can afford.
5. Available Data
An issue you might not have considered is that new vehicles are often released with unanticipated problems or quirks. These issues may be rather small or simply an annoyance. However, it’s also possible they could result in a major recall. Used vehicles offer the advantage of data and experience.
You can do some research to determine if drivers are experiencing common problems with a particular model. A vehicle history report can also provide you with the information you need to make a smart buying decision. Choosing a vehicle that’s been around a few years can actually offer added security.
6. Longer Lifespan
Finally, used vehicles can last for years and years. Opting for a model that’s only a couple of years old is a smart way to own a solid, quality car at a tremendous value. It makes a lot of sense.
Conclusion
Keep these reasons in mind when considering whether to buy a new or used vehicle. Buying pre-owned can often be the best financial decision.