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Are you considering buying a new car? Here are six advantages of buying a used vehicle instead of new dealerships.
When the time comes to buy an alternative vehicle, a lot of choices come to mind. There are two options: get an entirely new car or purchase a used quality car. Both are great alternatives, however buying us auto sales lawrenceville ga comes with many benefits, which range from savings upfront to lower insurance rates.
In this article, we'll go over all the benefits of buying a used car to help you make your car buying decision with all the details laid out.
Benefits of buying a used Car
A pre-owned car is more preferable to an entirely new car for a variety of reasons. There are six good reasons you should opt for a pre-owned dealership over a new one.
Costs in advance
While buying secondhand can be a savings, few secondhand items will offer the same savings like a used vehicle. The cost of a new car rose to $47.332 in 2021.
While 2021 will have the greatest demand for used cars in the history of but the cost for a used car is $28,305. The lower cost will mean lower monthly payments, and an upfront cost of $19 027 compared to purchasing a brand new vehicle.
You can either keep the money you save in the bank or change to a better-equipped pre-owned vehicle and still save.
Depreciation
Research has shown the average car is worth 20% less value within the first year, and certain vehicles, particularly those with luxury features tend to depreciate significantly faster. Thus, the car worth $47,332 is likely to be worth just $37,866 in the next twelve months.
The average vehicle is losing 15 to 25% per year for the first 5 years following it's left the dealership. This is a loss of value that could reach 60% over the course of five years. That brings the new car's worth down to $18,933, or a loss of $28,399.
There will be less depreciation when you purchase us auto sales lawrenceville ga if it has already taken the initial 20% hit. Once you are looking extra resources about used auto, check over here.
Worst of all, an older car that is one year old will lose 15-25% annually for the next four. After 4 years, the $28,305 used car is worth $8,956, assuming an annual loss of 25% each year. That's a loss of $19,349 that's $9,050 less than the value of a brand new car.
This is especially helpful when you need to replace your car. You'll be able to trade for a lesser.
Insurance Rates
Your car insurance rate is yet another reason to consider purchasing a pre-owned vehicle over buying a brand new vehicle. A brand new car costs more to purchase and can be harder to fix if it's involved in an accident. This means that you will pay more for car insurance since the insurance company has to take on higher expenses.
There are numerous choices
If you walk into any car dealership that sells new cars, and you'll see an array of colors, trim levels, and choices for each new model. However, they are all of the same brand, which dramatically scales down the options available to you.
When you visit a used car dealer, you'll find a broad range of makes, models and body styles to explore and pick from. Plus, some larger dealerships might have specific models in various trim levels and colors.
This is a great option for buyers who wish to test out a variety of vehicles from various types and brands before settling on the vehicle they will purchase.
In-Depth Vehicle History
A used car can offer you added assurance and security. It will let you know if the prior owner was involved in an accident that resulted in an insurance claim, if the vehicle was flooded and more.
You can also receive an exact list of maintenance completed by the previous owner, if they took their time. This list is an added assurance that you are getting an excellent pre-owned car.
Vehicles Stay Longer Than Ever
Ten years ago, 160,000 km was the maximum of a car's serviceable lifespan. Modern technology and assembly procedures guarantee that vehicles last longer than they ever have. Industry experts say they're designed to last over 400,000 km when you follow the manufacturer's routine maintenance schedule.
The car that has 40,000 kilometers on its odometer has had to go through 10% of its lifespan.
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