If you're in the market for a car, you have two options facing you: buying new or buying used. You may have visited a local car lot that sells new cars and fell in love with one that is fresh off of the showroom floor. You may even be so intrigued that you're ready to get your down payment together and sign on the dotted line.
However, before you make that move, it's better for you to consider the benefits of purchasing a used car. Learning more about the advantages attached to buying a used car will help you see why it's the perfect way to go.
A Used Car Is A Sound Investment
The main reason why you should purchase a used car is because it is a sound investment. You want to buy a car that makes the most sense financially. A used car delivers on this promise.
New cars typically depreciate in value at a very rapid pace. The moment you drive the car off of the lot it already loses value because it's no longer new. The drop is even more staggering after the first year of ownership, during which time the car will lose between 15 and 20 percent of its value. What this means is that you'll still be making the same payments for a car that is no longer worth what you're paying for it.
That's why it's such a good idea to purchase a used car. Someone else has already taken that overhead hit so you're usually paying an amount that is closer to what the car is actually worth.
Manufacturers Now Certify Used Cars
Another reason why you should buy a used car is because manufacturers are now certifying them. When a car is certified, it means that the manufacturer has given it a complete and thorough inspection to determine if any parts are deteriorating. If there are faulty parts, they are immediately replaced. This gives you the peace of mind in knowing that you're buying a used car that is in great condition so you shouldn't have to worry about it breaking down prematurely.
Purchasing a used car is a great way for you to get a good car at the right price point. You won't be wasting your hard earned money needlessly when you go used. The next time you need a car, keep these tips in mind so you can make the right choice.