If you like saving money, buying a used car instead of a new one can save you money in several ways. Not a big fan of buying used?
These days it’s a great way for a family on a budget to save money. Facts show that cars today are really good and really last a long time. The cars of today have a much more useful life than in the ’50s and ’60s when a lot of us were growing up. Besides the obvious reason to buy a used car, like paying a lower purchase price for the same car model used rather than new there are others as well. However, all used cars are not created equal. Just as in any purchase consumers must do their homework before deciding if a used car is in good working order or not. You may also want to finance you used vehicle. Some may hesitate due to low or no credit. Here is an article that can help.
Reasons to buy a used car
Keep in mind that new cars typically depreciate about 20 percent when they are driven off the lot. Followed by another 10 percent in value during the first year. Yikes! That’s a 30-percent loss in value during the initial year of ownership. For example, a $30,000 car loses roughly $9,000 in value during that period. Why not avoid that hit by buying a used. Likely a one-year-old used car is hard to come by, but it can be easier to find a two- and three-year-old used cars.
Getting more bang for your buck
Stretching your car-buying dollar is a great benefit of buying a used car. You can buy more car by buying used rather than new. Your budget may not handle that new luxury car you’ve been dreaming of, but one that’s two or three years old may fit your budget. People used to think that a 100,000-mile car was done, Now they are running to 200,000 miles. That’s like a second life! You may choose to use your current car as a trade-in to assist with the down payment. Be sure and check how much equity you have in your current vehicle in order to make a good decision. Be sure to be as thorough as possible with your dealer in explaining any issues your trade in may have. You will get the best possible deal!
Now that carmakers don’t redesign their models every year, buying used doesn’t carry the same stigma it once did. “When a three-year-old Lexus or Ford shows up in your driveway, your neighbors won’t even know you didn’t buy a new car. Folks will think its pretty much like a new one.
Keeping your peace of mind
Some used to say purchasing a used car was like buying someone else’s problems.
Today’s used car buyers can minimize the risk and save money while avoiding hidden problems. Companies like Carfax and AutoCheck give us a vehicle history reports. Based on the car’s VIN or vehicle identification number, these reports provide valuable information that includes verification of the mileage and whether the vehicle has a “salvage title” or ever declared a total loss by an insurance company.
Many used car buyers are worried about potential hidden problems. Many “Buy Here Pay Here” dealerships like Highway Motors opt to offer their customers a warranty. Our 90 Day or 3000 mile warranty offers a guarantee against defects similar to a new-car warranty.
Buying a used Car, Truck or SUV from Highway Motors not only get even bad credit customer financing but offers peace of mind with your purchase. Take advantage of our full team of ASE Certified Mechanics to keep you and your family safely on the road.