If you’re looking to get a good deal on an automobile, it pretty much always makes sense to buy a used vehicle. Sure, it might be tempting to go for one of those shiny new things with their lithe bodywork and that intoxicating new car smell, but if you fall for it, you’ll end up feeling like a sucker.
Why? Here’s why smart people always buy used cars:
You’ll Save Money
The most obvious reason that smart people go for the used Kia Sorento for sale rather than the brand new Ford F-150 is because they can save tens of thousands of dollars by doing so. It really is that simple for as many people. After all, why pay a lot more money for something that basically does the same job when you don’t have to?
Cars Depreciate Fast
Not only will you save money on the ticket price, but when you buy a used car, it depreciates at a far slower rate than a new car which can lose as much as 19 percent of its value within the first year – that’s money down the drain! So, it really isn’t all that smart to buy a new car when you think about it.
Many of the people who buy new cars do so because they think that the car will be much more reliable than a used vehicle, and they may be technically right, but when you consider the fact that the average American has no less than 13 cars in their lifetime and that cars built in the past decade have a longer lifespan than ever before, that shouldn’t be much of an issue, and it may actually be better to save money and go for the older, but still very reliable model.
Thanks to the increase in the number of people who are using CPO programs to rent their cars instead of buying them, it is now possible to find used cars that have very few miles on the clock and which have been looked after much better than used cars ver were in the past. This is the case because of the restrictions that lease companies put on their customers. That’s why, if you’re smart you’ll buy an ex-lease car.
Financing Terms are Better
If you don’t have the money to buy a vehicle outright, then it makes sense to buy a used car because you’ll get more favorable loan terms, thus paying back less interest over time than you would be able to benefit from when buying a much more expensive used car.
You Can Afford a Better Car
You might not be able to afford that shiny new sports car you’ve been eyeing up, but if you bide your time and wait until it makes its way onto the resale market, you will be able to buy it, and you will be able to drive a much higher-class of automobile than you’re used to.
There are literally no downsides to buying a used car providing you buy from a reputable source, and you do your due diligence, so what are you waiting for?