Sometimes when you’re car shopping, buying a brand new car just isn’t in the cards. Between the expense of the new car itself, the cost of taxes and registration, and the eventual cost of depreciation, many buyers turn to the used car marketplace to save money and still have a reliable vehicle that fits their needs exactly. That said, there are plenty of reasons why buying used is actually preferable to buying new in just about any situation. Recognizing the value of an older vehicle can save time, hassle, and all sorts of stress. Here are some of the benefits of buying used:
Recalls If you’re buying a used car from a dealer lot, you can bet all the recalls on the car have already been taken care of, and if they haven’t been, it’s the dealer’s responsibility to correct that before you take delivery of the vehicle. If you’re buying from a private party, you may still have to have the recalls taken care of at a dealer yourself, but you’ll be able to look up what they are before you even go look at the car - something almost impossible to do with a new car.
Depreciation Some cars depreciate up to 50% in the first three years of ownership. While that’s OK for some buyers, others are concerned about the long term consequences of losing so much value in their car. When you buy used, you’re buying after the car has lost the biggest chunk of its potential value, so you stand to lose the least amount of money if you want to trade it in or sell it in the future.
Negotiation At some dealers and with some cars, sales managers are reluctant to move much on vehicle price. If you’re buying private party, you have a much better chance of getting a great deal through negotiation, especially if you’re able to offer the seller cash. And if you’re buying off a dealer lot, you can always check the black book wholesale value of the car you’re interested in. That will give you an idea what the dealership paid for the car - either as a trade in or from a local auction - and give you the upper hand when it comes to negotiation.
Inspection There’s always the risk that you’re going to end up with a maintenance or repair bill when you’re looking at any car, but the risk seems larger when the car is used. Luckily, with used cars you’re able to ask the dealership or the private seller if you can have the car privately inspected, which is something you can't do with a new car (you never know when you're dealing with a lemon until it's too late). Here at Convoy Auto Repair we’re happy to provide private inspection services before you commit to a new/used car.
Buying a used car can save you money and allow you to get something more luxurious or with nicer features than you might be able to afford new, something nearly everyone can get behind!