Everyone loves the benefits of having a new car. Crisp new brakes, a brand new sound system, the rev of a fresh engine. And who can forget that new car smell?!
Getting a brand new car can make you feel like an entirely new person, like a completely different identity. However, that amazing feeling quickly fades away when you begin to see how much that new car is hurting your budget. High monthly payment, high insurance, maybe you just got a new vehicle that isn’t that great on gas mileage. The disadvantages pile up. Instead of deciding to splurge for that huge purchase and that financial burden, why not get a used car?
“A used car? Gross. I don’t want some old, run-down piece of junk that probably still has someone else’s gunk in it.”
Stop thinking that way! Just because you’re buying a used car doesn’t mean you’re getting it from some sleazy sales lot in the bad part of town. A lot of big dealerships have plenty of great used inventory to choose from, at a much lower cost than buying a brand new vehicle. Here are some benefits to purchasing a used car:
#1 Used cars are on average 50% cheaper than new car purchases. You end up saving money in the long run because it takes less time to pay off the vehicle, which also saves you financing fees! There’s also no over the top fees that dealers try to sneakily add into the cost of your new vehicle.
Depreciation Has Already Occurred
#2 When you drive a brand new car off the lot, it instantly loses value, almost as much as 11% right out of the gate. The benefit to a used car is that their value has already depreciated and they can even gain value over time!
No Add-On Fees
#3 When you look into buying a new car, you look at getting EXACTLY what you want. Premium sound system? Sure. Upgraded interior? Why not? Chrome wheels? Absolutely! These add-ons can end up costing $2,000-$3,000 more than the original cost of the vehicle! With a used car, if there’s anything that you want to install that is after-market, it will generally cost significantly less than having it added to a new car.
#4 Most dealers have a specific inventory of used vehicles that they call “Certified Pre-Owned”. This assures customers that they’re getting a high quality and thoroughly inspected car at a much lower price than a new one. All Certified Pre-Owned vehicles are inspected, refurbished, and certified by either the manufacturer or by another higher authority. This means that you’re getting the highest quality of used cars on the market. They also usually come with an extended warranty and other benefits like unique financing options.
#5 With used cars, some may still come with their original warranties, but others may have the option to create an entirely new warranty. If you get an extended warranty from the manufacturer, it allows access to factory-trained technicians who can repair your car with higher quality parts with speed and expert service, leaving you with peace of mind.
Lower Insurance Premiums
#6 Insurance for new cars is usually much higher than with an older, used car. With a new car, gap insurance helps with the gap between the cost of the car at the time of an accident and what you originally bought the vehicle for, but it raises your insurance premiums. With a used car, depreciation of the car has already happened, so the insurance premiums do not go up as drastically.
Lower Sales Tax
#7 If you live in a state with sales tax (so anywhere that isn’t Oregon and Delaware), that sales tax will be applied to your purchase of a new vehicle. Sometimes, this can equal thousands of dollars. However, if you buy a used car from a private seller, you won’t get hit with such outrageous costs!
Lower Registration Fees
#8 In most states, your annual registration fee for your vehicle is based on the car’s value and the year it was made in. You can save a ton of money by avoiding the outrageously high new car registration fees!
Potential For No Monthly Payments
#9 When you buy a used car, rather than a new car, you have the potential to only pay for insurance, gas, and maintenance for the vehicle, without the large monthly payment stacked on top of it. If you are able to buy a good used car with cash only, you can save yourself the hassle of trying to keep that high monthly payment in your budget!
Looking for a car can be difficult, whether it’s for a new or used vehicle, but always keep an open mind about all of these things, especially if you’re on a tighter budget or looking for a particular type of vehicle. Always make sure that when you’re buying a used car, that you either get it certified or checked by a third party mechanic before you put a final offer on the car. It’s always a good idea to cover your bases and make sure that you avoid buying a lemon.
Make sure to go to reputable dealers and don’t settle just for the cheapest option. Buying and owning a used vehicle has its benefits and can help save you money in the long run while still being a reliable tool to help you get to wherever it is that you need to go, just as well as a newer vehicle can.
Grand West Kia can help get you into a Certified Pre-Owned vehicle today with our extensive inventory of used cars! Whatever vehicle type you’re looking for, our experienced staff and sales team can get you in the right used car today and have you driving off pleased with the decision that you made!