3 Reasons you Should Buy a Used Vehicle
If you’re on the market for a new vehicle but don’t want to spend a great deal of money, consider getting one that is slightly used! There are a lot of reasons why you should purchase a used vehicle, as they have a ton of great benefits for you to enjoy. Continue reading to find out what some of these benefits are!
1. Minimizing Your Depreciation
One of the key benefits of a used vehicle, even one that’s just one year old, is that you get more value for your money. A new vehicle depreciates relatively quickly, losing 20% of its value the moment it’s purchased and driven off the lot. Additionally, it’ll lose another 10% over the course of the first year. This means that by the end of your first year of owning your vehicle it has dropped up to 30% of its value, a massive decrease!
A $30,000 vehicle is now worth roughly $9,000 less than when you first purchased it, but your loan – assuming you have one – is still the same. Avoid this issue by simply purchasing a slightly used vehicle instead.
2. More Bang for Your Buck
Stretching your dollar is one of the benefits of a used vehicle, allowing you to get more car for less money. A slightly older used vehicle, like one that’s only two years old, can give you a ton of great advanced technologies and features without breaking the bank. Additionally, vehicles have been living longer than ever before, meaning that a two or three-year-old vehicle still provides plenty of longevity for you to enjoy.
3. Reducing Registration Fees
Finally, a used vehicle will let you have lower costs when it comes to registration. This is often based on the state or the car’s transaction price so a more expensive vehicle will have a higher price. Overall, a used vehicle combats these prices by being cheaper out of the gate.
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These are just some of the many benefits of a used vehicle compared to a new vehicle. To learn more about what benefits you might enjoy with a used vehicle or to take one of our used vehicles for a test drive yourself, contact our dealership today!