If you are thinking about buying a vehicle but cannot decide between new or used car, there is a lot to think about before making your choice. New cars come with a guarantee of quality and performance and typically carry an ironclad warranty for the first few years. However, at first glance, a used car does not seem like as sure of a thing, but can in fact be a very beneficial purchase. If you are having trouble making up your mind, consider the following benefits of buying used cars.
Better Prices – The biggest benefit of buying used cars is the better prices dealerships offer on them versus new model vehicles. On average, a brand new car costs several thousand more dollars than a car that is even slightly used. A lower overall price means that your car payment amount will be smaller and more manageable over the term of the loan, and you can afford to take a loan that covers a shorter period. Buying used also makes it possible to get a high quality car for a much more affordable price.
Less Depreciation – One of the biggest negative factors of buying a new car is the level of depreciation you face as soon as you drive it off the lot. What this means is that if you were to buy a new car today and sell it to someone else in a week, you would lose several thousand dollars in the sale because of the effect of depreciation. Used cars end up costing significantly less than a brand new car even if they are relatively new, and as time goes on they depreciate at a much slower rate.
Lower Registration Fees and Taxes – The relevant authorities calculate annual vehicle registration fees and taxes based on the model year and estimated value of your vehicle. During the first three years of the life of a vehicle, the rates are typically the highest, dropping to their lowest point after approximately five years. Used cars, which are older and cost significantly less than brand new vehicles, subsequently have lower registration fees and taxes assessed to them.
These are some of the biggest benefits of buying used cars in Greensburg. Visit Jim Shorkey Kia today to explore the current inventory and get matched with the ideal car for your budget and needs.
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