Buying a used vehicle definitely has its downsides. Having little or no warranty and potentially costlier maintenance are two of the most notorious drawbacks of pre-loved cars. This doesn’t mean, however, that these risks can’t be worked around, Blossomchevrolet.com notes. Actually, if you have a good eye, you can even buy a secondhand vehicle that can run like a brand-new.
Considering that Americans love to replace vehicles quick, the chance of getting a quality used Chevy Cruze in Indianapolis or other compact cars in another city is incredibly high. If you succeed on this, you have fewer problems to worry, including these:
Let’s face it, money is the number one reason you’re settling with a used vehicle. If your budget permits, you wouldn’t hesitate to get a freshly minted car with guaranteed no previous wear or whatever damage.
In addition, everything costs more when it comes to brand-new vehicles. From taxes to certain fees, all is higher than the cost of used cars.
But if you can spot an officially used but relatively brand-new vehicle, then your find would be a huge steal.
The most heartbreaking thing about buying brand-new is the realization of depreciation. Depreciation hits new cars harder, and since they already cost more, then more money is lost if you decide to sell or trade it in down the road.
As used vehicles aging three years old and above tend to hold on to their value better, you’re most likely not going to lose what you spend on it should you let it go someday.
In general, used cars are less costly to insure because, obviously, their cash market value isn’t that high. This can help keep your repayments low without losing the peace of mind that your vehicle has coverage whatever happens.
Even if you applied for financing, the gap between its value and its cost is usually not that wide. Thus, decreasing the need for gap insurance.
Buying an almost brand-new, used vehicle certainly gives you the best of both worlds. Do your homework, and learn all possible risks of buying secondhand to know if the vehicle is still in great condition before you pay.