The choice to buy a new car or go for a pre-owned car can give you a headache. Though new cars come with attractive tech features, smell better, are more stylish and may have lower interest rates, the initial cost may be too high. Discussed below is an outline of some information about used cars that might be of help when you want to purchase a pre-owned vehicle.
Pre-owned cars are less expensive. When a new car is taken out of the shop, its value definitely drops. On average it will be worth 54% of the original price after three years only. That is annoying. 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.
Another concern is financing terms and rates. There are available and lucrative financing deals for new cars. Don’t be carried away and forget to do the math though. Besides there are programs that have helped bridge the gap. These companies offer lower rates and additional warranty as well as extensive car inspections. Since there are so many attractive financing options for used cars, the advantage of purchasing brand new cars is continually waning.
Another thing is the history reports of the vehicles. 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. This way you get to know exactly what it is that you are dealing with. In as much as the history report doesn’t delve into the nitty gritty, it offers you the main information needed 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.
Reliability is another concern. Sometimes you think it may be risky buying a used car due to reliability concerns. It serves well to know that several research studies have shown that the average car on the road is over 10 years old and the number keeps rising since the manufacturers are busy improving their line-ups. Modern cars, SUVs, and trucks have a longer lifespan and that’s an advantage for you if you are looking to buy a used car.
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.