Should You Buy a New or Pre-Owned Car? A Helpful Guide
When you purchase a brand-new vehicle, you are guaranteed to have the latest features, technology, and design. The downside? These cars also come with one of the highest price tags in the market. If you’re not in the mood to break your budget or spend more than necessary on transportation, then it might be best for you to explore other options – like buying pre-owned vehicles. In this blog post, we’ll tell you all about why buying used cars can save you money and provide great value.
PREVIOUS BUYER TAKES CARE OF DEPRECIATION IN VALUE WHEN YOU BUY USED RATHER THAN NEW
Used cars always help you save money. While purchasing used means less warranty coverage and the possibility that something has been worn out or broken during its past use, if you look at the bright side, it also means that someone else took care of depreciation in value for you already.
A brand-new car loses up to 20% of its value in the first year. This means you can buy a car for $20,000, and it will only be worth about 16-17 grand after the first year. If you want someone else to bear this significant loss, then buy a used car.
YOU’LL GET MORE BANG FOR YOUR BUCK
When you purchase a pre-owned vehicle, it doesn’t mean you are getting an antique. You can easily buy a car that is only a few years old and in really great condition. In that case, you will get all the modern features and technology in your vehicle at a much lower price.
If you want to keep your budget as low as possible, the older model is definitely for you. You will not struggle to make monthly payments, and you will have a lot of cash leftover to take care of other things, such as insurance, gas, maintenance, etc.
NO ADDITIONAL FEES
When you purchase a new car, the dealership will add on hundreds of dollars in fees. They do this because they can, and people often ignore these costs when buying a new vehicle. When it comes to used cars, there are no additional charges for anything else; you just pay the sticker price!
LOWER INSURANCE PAYMENTS
Another thing that you may want to think about is the monthly insurance amount you will be paying. A brand-new car is a greater risk for insurance companies and therefore attracts a hire premium. On the other hand, a slightly used version of the same car does not pose as much of a risk and therefore you pay much less in insurance.
Buying a used car is the perfect way to get into a new vehicle without breaking your budget! Let us know if you have any questions about our used car inventory or what it’s like to purchase a used car from Jim Ellis Buick GMC, serving Brookhaven, GA. Our friendly staff would be happy to answer all of your questions and help you find the right fit for you. Come see us today!