If you are in the market for a new car, you obviously have a lot of options available to you. But before you show up at the nearest new car dealer and start test driving the fanciest vehicles on the lot, it might be worth your time and money to take a step back and think about a different approach. Plenty of Americans today are opting to purchase their next vehicle from a used car dealer instead of buying new. The obvious advantage is that used cars tend to cost less money but there are also additional benefits that you might not have thought of. Here are 3 reasons why you might want to take a look at the used car dealerships in your area.
While a used car will be less money than a new car of the same model, there's another financial advantage to buying used that is not immediately obvious. As soon as a new car is driven off the lot, it can lose a good chunk of its value immediately. This could be anywhere from 10 to 15 percent or perhaps higher depending on the type of vehicle. If you still have to pay the full value of the car off through monthly payments, you are already under water financially as soon as your car goes from new to used. Because used cars have already taken this hit, you won't have to deal with much further depreciation when you drive it off the lot.
If you want to be a friend to the environment, buying a used car instead of a new one is a good place to start. Cars are often associated with carbon dioxide emissions but did you know that a good chunk of those emissions come from the manufacturing process and the initial shipment? When you buy used, that is one less car that needs to be built and one less used car that will end up in a junk yard somewhere.
Lower Insurance Premium
While there are other factors at play such as your driving history, a general rule that your auto insurance provider follows is that a higher value vehicle is going to carry a higher insurance premium. If you buy a used car that costs significantly less money than a new car of the same model, you will likely see additional savings in your monthly insurance payment.
It's obvious that one of the advantages of buying used vehicles compared to new is that you will save some money up front on the sale. But there are other advantages in play as well. Used cars will not depreciate as fast, are more friendly towards the environment and continue to save you money every month in the form of a lower insurance payment when compared to buying new.
Contact a local used car dealership, such as Jack Burford Chevrolet, for further assistance.Share