If you are thinking about buying a new car, you should definitely consider buying used from a used car dealership instead of brand new. This is especially important if you are trying to save money, you're young and the car is only for yourself, or you will only be using your car for commuting to and from work. In these situations, a used car is especially great. Here are four reasons why:
Used Cars Are Cheaper to Buy Upfront: The upfront costs on a used car are going to be much more affordable than buying a brand new car. This is because you won't need to put a large down payment in order to see a large decrease in the monthly payments you will be making. On top of this, since used cars are cheaper, if you are going to be financing, the financing company won't require as much of a down payment either. On the other hand, you are still benefiting if you want to pay cash. Most likely, you can afford it if you have saved the little amount that you need for a used car, and then you will have a reliable car with no car payments.
Used Cars Are Cheaper to Insure: When you own a vehicle, you need to have insurance on that vehicle. Luckily, with a used car, you can see a significant decrease in the amount to insure that car versus a new car. This is because it's riskier for an insurance company to insure a brand new car because the value is much higher. This means that if the car is totaled, the car insurance company is paying more in order to replace that vehicle.
Used Cars Don't Depreciate Immediately: When you purchase a new car, as soon as you drive it off the lot, it depreciates in value significantly. This is because now this car can no longer be considered a new car. When you buy a used car, this doesn't happen, which means that if you want to sell or trade it in, you won't see a huge decrease in the value you can sell it for.
Used Cars Are No Longer Considered Risky Purchases: Cars in the past 10 and 20 years are made to be extremely safe and hold up to a high standard. For this reason, there is very little risk in purchasing a used car because it is sure to last a longer amount of time than a car that was not made to hold up to such high standards, which isn't something that you will find.
When you know these four reasons you need to buy a used car, you can be sure that you understand why it's sure to give you the best for your money.