Is Buying A Pre-Owned Car Worth It?
Posted on August 01, 2018
Definitely! Buying a used car is worth it compared to buying a new car in most cases. Buying a used car means that you are saving money upfront because you are paying for the car while the owner of the car paid for the depreciation of it.
Definitely! Buying a used car is worth it compared to buying a new car in most cases. Buying a used car means that you are saving money upfront because you are paying for the car while the owner of the car paid for the depreciation of it. Depreciation is always the largest expense for any new car buyer. Since the first owner of the car has paid most of the depreciation, the next person to buy the car will take a lot less of a hit on depreciation and the value of the car will be around the price that you paid for the car. Depending on what car you are buying and how old it is, the depreciation can be miniscule or significant. Depreciation is inevitable for 99.9% of cars and is nice when going shopping for a used car.
There are more advantages to buying a used car such as paying less for insurance as it is an older car. Also, registration fees are a little cheaper. Everything about a pre-owned car is just cheaper on your wallet. Since nicer and more expensive cars depreciate faster, your budget for a new car would be able to get you a nice Mercedes-Benz, Audi, or BMW for the price of a new Civic. Or you can get a cheap, reliable, and fuel efficient Civic and call it a day.
But there’s a difference between buying a used car and any used car. Every used car is different, and you can’t assume that the car is going to be perfect like it’s a new car. No pre-owned car is ever perfect, but that’s why you should do your research on its reliability and value. We make sure to inspect all our inventory before we buy the car, or if it’s traded in. If you are thinking of buying a used car from a private owner, its worth getting the car a PPI (Pre-Purchase Inspection). Going through the search of your perfect pre-owned car and making sure it doesn’t have any major issues is worth it in most cases.
Send us your answers to the question below to our email ():
Would you rather have a new car that is relatively cheap or an pre-owned car that is much nicer for the same price?