Buying a car is a significant purchase for most of us. Many people choose to purchase a second-hand car over a new one. They are much cheaper outright to buy, have lower insurance and registration costs, as well as having an array of other advantages. Here are some of the benefits of buying used instead of new.
You save money
The main reason people opt for a used car is that you save a considerable amount of money. A used car can cost 50% or less the cost of a brand new one of the same or similar model, making it a smaller financial commitment. If you purchase the vehicle using a payment plan, it will take you far less time to pay off compared to a new car which may be double the price or more.
They generally have smaller annual registration costs, and have pre-existing warranties in place which can be transferred to you, so you won’t have to fork out for them. When you buy a used car, most of the depreciation value of the car has already taken place, so you get the most out of your investment.
You don’t need to pay as much for car insurance
A new car takes its biggest depreciation hit in the first one to two years. As soon as you drive it out of the dealership, it is already worth less than what you paid for it. As depreciation has already occured, a used car will have lower insurance rates than a brand new car. So you won’t only save money at time of purchase, but also further down the track in your car insurance payments.
You won’t be hit with any hidden fees
When buying new, there are often many hidden costs associated with your purchase. These may include destination fees, shipping fees and processing fees, as the car needs to be transferred from factory to dealership. You tend to bypass these hidden fees when purchasing a car second hand.
You get peace of mind
When purchasing a used car from a trustworthy dealership such as Peugeot Perth, you can be sure that you are buying a car that has been thoroughly inspected and tested. You will have a comprehensive understanding of the car’s condition upon purchase and be assured that it is functioning optimally.
When buying off an online marketplace, you risk being sold a vehicle with undisclosed defects. By going through a certified dealership, you get the peace of mind that the car is safe and ready to drive.
You have more options
When buying a car new, you only have limited options of what’s available. You are usually offered the latest models with the latest technology, which do come with a larger price-tag.
Sometimes, you just simply do not need the fancy extras. You can more often than not always find a used vehicle which will meet all of your needs, and will provide you with transportation for many years to come.
Another benefit is you may find used cars for sale with added customisations. These may include roof racks, rust proof coatings and sun-roofs. These customisations more often than not have no effect on the price of the vehicle, so you are getting customisations which would normally cost you extra, for no added cost.
If you wish to customise the used car yourself, it generally won’t cost you as much as it would to customise a new car.
You will also be able to purchase a style or model which is no longer in production, which may be of value to you.
You will be making a more sustainable purchase
New cars use up a large amount of material and energy to produce. During the production process, a considerable amount of CO2 is emitted. After the car has been manufactured, there are emissions associated with the shipping of the car to its destination at the dealership.
A used car has already been through its manufacture and transport stage, and by being sold to a new driver, its life is extended.
Purchasing a used car lessens the chance of it ending up in a dumpyard before it needs to. It is incredibly worthwhile investing in a second hand car which still has plenty of life left in it, not only for your wallet, but to reduce your environmental footprint.
You will have plenty of high-quality options
Continuous improvements in car technology over time has allowed for a large array of high-quality second hand options available on the market. Modern second-hand cars tend to be more reliable than those of the past, and can go longer between services and repair work.
You might even be able to find last-year’s model of the new car you were looking for, at a much lower price and it may only have a low amount of kilometres on the odometer. It is worth spending time researching and looking at the options available on the used market. There are even plenty of used luxury cars available which would only cost you a fragment of what they would sell for new.
To sum it up
It is certainly worthwhile doing your research when it comes to purchasing a car, whether new or used. It needs to fit your budget, driving needs and ultimately be safe. Going through a trusted used car dealership is a fantastic way of making sure you check all of these boxes, and can be confident with your purchase.