Buying a new car is exciting. There are many people who look forward to the time when they will be able to replace their car with something better. If you are in the market for a different car you might be wondering if you should buy new or used. There are many advantages to both but for most people buying used is the better option. Here are two reasons to buy used.
1. Better Resale Value On A Used Car
Although you may not be thinking about reselling the car when you are purchasing it, you should think about the resale value of it. When you buy a brand new car you guarantee that you won't get out of it what you spent. This is because when you drive that car off the lot for the first time, it decreases significantly in value now that it has had an owner. You will not be able to turn around and sell that car for the same price you got for it. You cannot sell someone the warranty, or the peace of mind knowing that they are the first and only owner.
With used, you may not be the first owner, but you know that the price that you paid for the car more accurately reflects the value of the car. If you decide a couple months down the road that it wasn't the right car for you, you could probably sell it for the exact price you paid for it. This means that in the long-run you will lose less money on the car. It won't be depreciating so fast, it should hold its value longer.
2. Cheaper Expenses
If money is an issue for you, then buying used will save you money all around. There are so many extra expenses associated with a owning a car. Most of these expenses will be cheaper if you have a used car. Your auto insurance will be calculated on how much your car is worth, how many miles it has and how expensive it was to begin with. Your title and registration will also reflect the value of the car. Thus, if you buy a car that is more affordable and will be cheaper to fix if something were to happen, you will save money on all of these extra expenses.
By understanding these things you can determine if buying a used car is the right choice for you.