If you are getting ready to purchase your first car, you might be really excited about this milestone in your life. While preparing for your purchase, you might have looked at a lot of brand new cars. Even though the idea of buying a brand new car might be appealing, however, you may want to consider buying a used car the first time around. Here’s why.
1. Buy a Car for Less
Buying a car does not have to be expensive, but it certainly can be. If you are willing to buy used, then you can often spend much less on a car. You may find a nice used car that you can purchase in cash, for example. Even if you choose to finance your purchase, you might find that your payments will be much lower with a used vehicle.
2. Keep Insurance Rates Down
Insurance rates can be expensive, particularly for someone who is a new driver. If you have to insure a brand new car, your insurance rates could be through the roof for the first few years. With a used car, however, you should be able to keep these costs down.
3. Minimize Basic Ownership Fees
Along with spending less on the car itself and the insurance, you may be able to spend less on your vehicle ownership altogether by buying used. This is because things like registration fees are often cheaper for older cars than newer ones.
4. Get More Car for Your Money
You may find that you can get more car for your money if you buy used. For example, for what a brand new car with bare-bones features might cost, you may be able to purchase a gently used car with all of the bells and whistles.
5. Choose from More Makes and Models
There are a ton of makes and models out there that aren’t being made any more. By opening up your options to used cars, you can have more vehicle options to choose from. This can help you ensure that you end up with the vehicle style that you truly want, since you won’t be restricted to what is available on the new dealership lots.
6. Reduce Depreciation Costs
The cost of depreciation of a vehicle can leave you upside-down in your loan or could make it difficult for you to recoup your investment if you choose to sell the car. Of course, this can happen with any vehicle, but cars depreciate the most in the first couple of years after they are purchased. This means that if you buy a gently used car, it will have probably already depreciated, and you won’t be on the hook to pay for this.
7. You Can Make Modifications
You might think that you will have to do without all of the fun tech features if you choose a used car. However, this does not have to be the case at all. Nowadays, you can make your own vehicle modifications — such as installing a backup camera or putting in a remote start system — to a used car. This means that the best features aren’t just reserved for those who buy brand new vehicles.
8. It’s Not as Risky as You Might Think
Some people assume that buying a used car means that they are buying a car that will have a lot of problems. However, this is not necessarily the case. Nowadays, you can look at the maintenance records and history of a car to get an idea of what to expect from it. Plus, cars are designed to last much longer than they used to, so just because a car is older does not mean that you can’t get a lot of use out of it.
As you can probably see, there are quite a few reasons why you should consider buying used when buying a car. Of course, this does not mean that you have to buy an old clunker. In fact, you might be surprised by the many nice used cars that are out there. If you shop around, you should be able to find a used car that you will be happy with.