Why Choose a used car?
One of the decisions a car shopper is faced with is whether to purchase a new or used car. Below is a look at the things that making buying a used car an attractive prospect.
This is probably the first advantage that pops into one’s mind when buying a used car is considered. No matter the incentive, program, or deal, there is no way that a brand new vehicle will be less expensive than a used version of the identical car. In other words, a used Vauxhall Corsa will be less expensive than its brand new counterpart in 100 percent of cases. If the lowest possible price of a reliable vehicle is the top consideration, that a second hand Vauxhall car will be a better deal than one brand new off the showroom floor.
As a percentage, used vehicles maintain resale value better than new vehicles. This is primarily due to the massive early depreciation in the value of new cars. As an example: Two fellows simultaneously buy Nissan Qashqais, one brand new with the other opting for a used model. The brand new vehicle will lose hundreds of Pounds in value simply by driving it off the dealer lot. This immediate drop in resale value is the difference between almost new and brand new. The used Nissan Qashqai on the other hand, will lose no measurable value. If both fellows choose to sell their vehicles a year later, it is a near certainty that the one who chose used will recoup a larger percentage of his original purchase price.
Availability of Parts
For a car that is still considered brand new, there is only one option to acquire parts for repairs or improvements – paying full retail to a distributor for the original vehicle manufacturer. Also, those wishing to customize a vehicle will often have difficulty finding compatible accessories for a brand new model. The used version will have been around long enough for aftermarket manufacturers to engineer accessories to cope with any idiosyncrasies that the particular model might have.
Lower Insurance Premiums
That rapid initial depreciation new cars experience rears its head again when paying insurance premiums. In the event of an accident that completely destroys a car, the insurance company underwriting a brand new car’s policy will be in the position to pay off a loan with a principal amount higher than the value of the asset insured. In other words, cars purchased brand new represent a larger loss to insurance companies than those purchased used.
When most people think of buying a car, they picture a new car. Used cars do have advantages that could make them a more logical option.