Depreciation: New cars are said to depreciate 20% as soon as it is driven off the lot. Then during the first year, the car is depreciated another 10%. That is 30% depreciation right away. For a person buying a used car, this can be a huge way to save money. It might be hard to find a car that is only a year old, but it is possible to find cars that are only 2 or 3 years old. That is like getting a new car for a 30% discount.
Cars Last a Long Time: It used to be thought that once a car hit 100K it was on its way out. These days, many cars are lasting into the 200K+ categories. Even after someone has loved their car and moved on, customers are now able to get the car at a largely reduced price. Look at the price difference and the extras available when you buy a used car from places like Adel Chrysler Dodge Jeep RAM of Des Moines. Luxury cars and cars with all the add ons are now available at prices everyone can afford.
Car Insurance: When the car insurance company figures out what to charge you for your insurance, a huge deciding factor is the value of the car. Since preowned cars are naturally valued less, thanks to depreciating, this can save you on insurance.
Warranty: Many people say they don’t want to buy a used car because what will they do if it breaks. Many dealerships offer warranties that protect from the major issues and costly repairs. Many even offer additional warranties to purchase that will continue to protect the car or protect above what the original warranty protects. Even with purchasing the warranty, the price of the car is still hugely discounted than new.
Vehicle History Reports: Some people balk at used cars because they are worried that something might have happened with the car in the past, like an accident. Many people are able to get a car history report to know exactly what has been done or if something happened to the car they are interested in purchasing.
Buying a used car is a great way to save money and stay on budget. But it is also a way to be able to do more of the things that you enjoy and just use your money for fun. Like traveling more. Once you get your used car, hit the road. Start on some epic road trip and make all your friends jealous.