Top Reasons For Buying A Used Car

used car

buying a used car was considered a big no as it used to be an investment which was very risky. A used car was thought to be troublesome as there was no way to find out if the car was maintained well or not. However, this is not the case now as per experts at as there are many ways to find out if the used car is in good condition before making a purchase. Hence buying a used car is no longer a trade off but considered a wise investment decision especially if you are a family on a budget and looking for ways to save money.

Car manufacturers claim that they last long are entirely accurate as used cars can give you great value for money. You can purchase a model of your choice at a much lower price albeit an older one. But like all other things, it is pertinent that the buyer’s conduct appropriate research on the condition of the car before buying one. If you are shopping for a car on a tight budget here are a few reasons why you should consider buying a used car.

Cost effective: A new car value depreciates by 20 percent during the first year of its life, and its value is bound to decrease every year you own it. Some experts say that there is a 30 percent reduction in the value of the car in the first few years of its life. If you buy a car for say $30000, its market value us only up to 20000. With such a massive depreciation in the initial years, people are looking to buy a car which is a 1 or 2-year-old as your investment on this relatively new year is much lesser than the new one. Another advantage is that you can sell it and you will not be losing a lot of money.

Pay less for insurance: Car insurance is based on the price of the car. As a newer version of the car costs you more, the insurance you pay is also more. Hence, buying a used car makes more sense if you want to save money on insurance as you spend less on a used car. Also, there are many options in a used car insurance which you can do away with collision, theft, etc.

Afford to buy the model you always wanted: Another advantage of the purchase of a used car is that you can buy the car you always dreamed of, so what if it is a used one. You may not be able to afford to buy your dream car brand new but can always buy a used one which is a few years old and one that suits your budget. Another important thing to consider is that cars these days have more juice in their engine than earlier, so even if the vehicle has done some miles, it is still worth buying a used one.

There are many ways to find out the exact condition of the used car; there are many places to buy certified used cars which meet the manufacturer’s standards and comes with a guarantee similar to the new car guarantee programs.