Top 5 Reasons to Buy a Used Car Instead of New
- Used Cars are Cheaper
Purchasing a used car has always been a much smaller investment than purchasing a new vehicle. However, what you may not know is that used car prices have dropped significantly in the past year. This is due to an increase in new car sales that have resulted in fewer sales of used cars nationwide. Most car dealers simply have too many used cars in their inventory. This is even the case for car dealers in Dallas Fort Worth TX.
- New Cars Depreciate Faster
Not only will you be paying more for a new car, but what you paid for it evaporates fast. New cars depreciate extremely quickly. The loss might be as high as thirty percent in the first couple years. Due to this fact, new cars are really not safe investments for the long term. Used cars, on the other hand, do not tend to depreciate as quickly especially in the case of certain dependable models.
- Cheaper Car Insurance
Car insurance for newer models will always be higher. This is due to the fact that newer cars have to have full coverage due to the specifics of most financing plans. It is also due to the fact that accidents can do serious harm to a newer car’s value and result in excessively expensive repairs. In fact, the insurance rate for a new car can run as high as 20 percent of that vehicle’s sticker price.
- Many Used Cars Are Reliable
Many popular models are still on the market due to their long-term reliability. A used car can also be inspected to discover any problems beforehand. Routine maintenance should also remove most of the risk. New cars may seem like a safer bet as far as reliability goes. However, many new models are routinely recalled due to faulty parts and design flaws.
- There’s Better Selection
When shopping for a used car, your choices could possibly include any model from any company in the past. The selection dwarfs what the big auto companies offer in a single year.