The Financial Benefits Of Buying A Used Car
Everything to help you make the right choice when buying a used car must be made. A used car has been used by someone else before and the cost will undoubtedly be lower. However, the fact that it had been used before means that it will not be in the same condition as a new car that has never been used before at all. Be that as it may, you can still get a very good value from that used car and use it with complete peace of mind if you choose the right cars com to buy the used car. it is important to mention the fact that a used car will not cost you as much as new one.
No bulk depreciation
The rate at which new cars depreciate can be disturbing for those who want to buy a new car. Studies show that new cars depreciate at the rate of 15% to 20% every year. In fact, the car will start depreciation right from the moment that you drive it out of the car dealership. Which means you will not get the same amount of money on the car again after about 24 hours of returning it to the dealership. It may, therefore, be better to simply opt for a used car when buying an automobile since it will help to prevent that uncomfortable depreciation problem.
Benefits of cheaper cost
A used car has gone beyond the problem of bulk depreciation and the benefits associated with this are endless. For example, the used car will not attract huge annual registration fee unlike a new car. The used car will also not cost a lot of money to insure. Insurance companies usually consider various factors like the actual cost of the car, its condition, its mileage and a couple of other factors before determining the amount you will have to pay as insurance premium.
Findings have it that the rate of depreciation of new cars is fastest during the first year of buying it. The new car instantly becomes a used car from the very moment that you buy it. If the cost of a new car is $25,000, you may save as much as $4000 if you buy that same car a year after the first owner has used it. You can check cars com to know the immediate depreciation of the car.
Choose the seller very carefully
Buying a used car will help you to save a lot of money quite alright. However, the amount you end up paying on the used car can be determined by the dealership where you buy the car. Some dealers are gullible and greedy; such individuals end up charging you a lot of money for used car. This is why it is very important to know the true market value of the car before you ever buy it. You can equally get a very good car at a cheaper cost or even for nothing if you can locate outlets where you can find individuals that are ready to donate a car for those who cannot afford one.