Last year I was, for the first position in my life, able to afford a brand new car, I had been toiling away in my Pinto for many years, but the time had finally come to get something new. In spite of the fact that I was in a position to afford a new car, I took the decision instead to buy a used motor, and headed to American Federal Auto, and picked up a great bargain. My reasons for buying a used car were not because I am tight and refused to part with my cash, but rather because it simply works out as the better deal, from every angle. If you are in the middle of deciding on which car you should buy, here are the benefits which I love about buying used, rather than new.
When it comes to the straight up cost of the car, buying used is just so much cheaper, and you can get almost the exact same model that the car dealerships are selling brand new, for half of the price. Let’s say that you are looking for a BMW Z-type, you can pick one of these up for more than 50% cheaper when you buy used, than when you buy new. Given that BMW no longer make new models each year, it is probable that your used car is only a couple of years older than the new one in the showroom. If you want to save cash, buy used.
Bang For Your Buck
The best part about getting a cheaper car, is that you can invest a little bit extra to ensure that you can have a car that is well kitted out. Take my situation for example, I was in a position to pay almost $20,000 for a brand new car, but instead I opted for a $9,000 car, and then spent $2,000 on some exciting add -ons and gadgets. Buying cheaper does not mean that you have to have a cheap car, and you an get way more bang for you buck when you buy used.
Cheaper Insurance and Registration
Both the cost of your insurance and of your vehicle registration, comes down to the value of your car. Naturally your car will be have a far lower valuation if you buy used, This is great news as you will have already saved some cash on the value of your car, and then you can save even more when it comes to insurance and registration.
The worrying thing about buying a brand new car is that it can depreciate by up to 30%, just from driving it away from the showroom. With a used car this is not the case and the lower value also helps to avoid heavy depreciation. In many cases your loss from what you paid versus what you receive, can be very negligible.