Does anything beat that new car smell? Yes, we’d say, the smell of money in your wallet beats that new car smell. See, when you’re saving money by buying used, you’re coming out with a lot more cash in your wallet. Today we’re running down the best reasons to buy a used car when you need a new ride. Make the right call when you hit the dealership!
Top Reasons to Buy a Used Car
Car Values
It’s no secret that new cars cost a lot more than they have any business costing. That’s why a new car depreciates by 50% in the first three years after it rolls off of the lot. This really stinks when you buy a new car and go to trade it in a few years later. The thousands of dollars it’s lost in value is essentially gone, and you’re about to sink the excess value into another new car.
Stretch your Money
It doesn’t have to be that way, though. If you go to a used car dealership and look for a 3-year-old vehicle, you can get a nice, modern car for half the price of a new car. Beyond that, once a car is three years old, it’s stopped depreciating at such a dramatic rate.
That means, after you’ve driven your used car around for a few years, it’s unlikely that you’ll have a hard time selling it for a similar amount that you spent on it. This goes double if you’re buying used cars with lots of options, like infotainment systems, safety features and the like.
Insurance
Driving a new car is expensive for a lot of reasons. One of those reasons, on top of the sheer cost of a new car, is the insurance. Insurance on a new car can be as much as double the price for the same vehicle that’s three years old.
Here’s the thing: you won’t feel the difference driving a three-year-old car around the road unless you’re a professional driver. Your insurance company, however, marks that difference in cold, hard cash. Cash that you could save for fun stuff like going on vacation or just for putting in your savings account.
Choices
Most dealerships have much wider varieties of cars that are used. After all, the newest cars have to appeal to a very specific kind of driver. If you’re looking for the right car for you, your best bet is going to be looking at a used car. Make your budget go farther for you by buying used for your next car.