The choice to buy a new car or go for a pre-owned car can give you a headache. New vehicles come with latest style, low interest rates, exciting tech features but when it comes to the budget it may not be the friendliest choice for you. That is why we will look at an overview on some used-car wisdom that might help you make a good choice on the same.
Pre-owned cars are less expensive. When a new car is taken out of the shop, its value definitely drops. It is estimated that on average, the value will be 54% of the price you originally bought it. Well this is bad Therefore the average cost of a second-hand car is below that of a new model and that’s not all. Moreover to insure a used car and the cost of taxes involved would be much cheaper. Don’t however, forget to check on distance and mileage point as well as the warranty as this will impact on the cost of maintenance.
Financing rates and terms is another issue. There are very attractive financing deals for new cars and with longer terms. You should not forget to do the math regardless. Besides there are programs that have helped bridge the gap. These companies offer lower rates and additional warranty as well as extensive car inspections. This explains why the benefit of purchasing a new model has continually faded since there exist special and lucrative financing deals for used cars.
Another factor in play is the history report of the pre-owned vehicle. It is only natural to feel uncertain about buying a used car since you may not be sure where it has been. However, there is no need to worry since there ar tools in the market to help you get a transparent report like CarProof. You can therefore get all information you need to settle your mind. Even though history reports may not have every bit of information, you will get the essentials to settle your doubts. These include, how many owners previously involved, detailed accident or damage history, previous status of registration, mileage and distance validation records, maintenance records etc.
The last factor involved is reliability. You might feel unsettled about the reliability of a used car. Several studies show that the average car on the road is over a decade old and the number keeps going up as manufacturers work hard to enhance their line-ups. If you are looking for a used car, you should know that trucks, modern cars, and SUVs have a longer lifespan.
The prospects of purchasing a brand new vehicle are high and the thought attractive but you can’t deny that used cars give a better value.