Buying a used car is a very tricky process but in case one gets the desired deal then it becomes a great opportunity to experience the benefits of a car. Used cars are available in abundance in the market. Every new car owner eventually sells their cars so that they can buy a new one. This becomes an opportunity for the people who want to buy used cars. For people who have a restricted budget, or want to own a car to learn how to drive, or want to buy a car on some temporary basis, used cars are the best option for them. So, what are the 7 advantages of getting the best deal on a used car? Here are a few:
Buying a Used Car Instead of New
1- The first and the foremost advantage of buying a used car is that it saves you a lot of money. The cost difference between a used car and a new car of the same model can be up to 50% or even more in case you get lucky. This makes it possible for you to even buy your dream car which in the other case of a new car could have been completely out of your budget.
2- Another big reason that the used cars are a great deal over the new ones is the depreciation cost. A new car depreciates in its original cost rapidly. In the first three years of buying the car, the car loses up to 60% of its original cost. In the case of a used car through this rate of depreciation is relay slow, and even if you sell your used car after three years you can get almost the same amount as you would have bought it in, given that the car is in good condition.
3- With a used car another prospect of cost savings comes by skipping the registration cost. When you buy a new car the cost of registering the car is also included in it but in the case of a used car there is no such surcharge, therefore you save some money.
4- When someone buys a new car then the warranties on the car are a standard of 3 years but a few customers tend to get extended warranties of up to 5 years. If you can find a car that lies in that extended warranty period then you can avail all the genuine services of the car manufacturer without paying any overhead cost.
5- Used cars also have a warranty period depending upon the vendor you have bought the car from. Warranties up to 1 year are available for used cars depending on the vendor you have bought the car from.
6- Insurance premiums of used cars in much lower than that of a new car. So, if you can crack a good deal while you buy the used car and added the lower cost of insurance then you are in a win-win situation.
7- The interest rate on a used car is mostly higher than the new car, but since then the car is ultimately cheaper than the new car therefore you don’t have to pay high monthly EMI to buy your dream car
Used cars come to great benefit in case they have been chosen wisely. It all depends on the condition of the vehicle when it is bought and how good care you take of your vehicle.