For many drivers, buying a used car instead of a new car is a terrific option. When you want to save money, buying a used car rather than a new car will save you a million dollars in a variety of ways. If you ask any financial adviser whether you should buy a used car or a new automobile, they will advise you to buy a used car rather than a new one. The used automobile market is also an excellent option for first-time drivers and those seeking a good car at an inexpensive price. Take a look at the list below to learn more about the advantages of buying a used automobile.
Depreciation is dealt with:
The majority of purchasers are unaware of this fact. A depreciation value is assigned to every vehicle. When you drive out of a new automobile dealership, the car’s value plummets right away. In the first year, most automobiles depreciate by 25-30%, with another 10-15% depreciation in the second year. This means that if you sell an 8 lakh rupee automobile after three years, you would incur a 4 lakh rupee loss. On the other side, if you buy a comparable automobile from the used car market and sell it after three years, you will only lose around half the money.
A sense of calm:
The car’s dubious reliability has been one of the major concerns among secondhand car buyers. Cars, on the other hand, are incredibly reliable thanks to contemporary engineering. Furthermore, warranty periods have lengthened, and most owners now opt for the “extended warranty” option. This means that if you buy a secondhand car that is 1-3 years old, you don’t have to be concerned about its dependability. It’s also gotten easier for a car owner to obtain the service records from an approved repair and present it to a prospective buyer.
Financing Options That Aren’t As Difficult
As previously stated, the used car market is increasingly becoming more organised. Several automakers have their pre-owned departments, and a growing number of financial institutions are now offering competitive loans. As an outcome, if you purchase a used car, you will not have to fret about huge EMIs. ‘Zero down payment options are increasingly being offered by several manufacturers with used car divisions.
Spend Less and Get a Better Car:
Individuals can save a significant amount of money by purchasing a secondhand car rather than a new one. For example, when your budget is 5-6 lakhs, you can acquire a used automobile that is 1-2 years old because depreciation for a new car directly from the showroom is 8-10 per cent. As a result, depreciation is cheaper than for a new car. Moreover, you can skip a sector and choose a different automobile model within the same budget range, which may result in you purchasing a better car than you anticipated.
Vroomwheel can simply assist you in locating the best-used vehicles in your specific price range. They will go out of their way to make your experience with their services as simple and reliable as possible.