3 Benefits to Buying a Used Car
When it comes to deciding whether to buy new versus used, the choice usually comes down to money. However, whether you can afford a new vehicle or not, you may find some of the benefits of buying a used car to be interesting. Here are 3 reasons you should consider buying used next time you need a car.
Used Cars Have a Lower Depreciation Rate
When a person drives a brand new $30,000 car off the lot, they are now the proud owner of a $24,000 car. That’s right – new cars lose about 20% of their value from day one. However, used cars depreciate at a much slower rate, especially if you buy a vehicle with a good reputation like a Toyota or something that is prized by owners like a Jeep. Unless you plan on driving a new car for hundreds of thousands of miles until it’s ready for the junkyard, a used car is the better option.
Used Cars Can Still Come with a Warranty
One reason many people look for a new vehicle is they want that peace of mind knowing that they have a warranty. Here’s the problem. If you buy a new car, you end up with a large monthly payment. A warranty doesn’t cover normal maintenance. Plus, you’ll probably run out of warranty before the car is paid off, which means you may end up with overlapping payments and repair bills. The far better option is to find a used car dealer that offers warranties. You can buy a used car with a lower monthly payment, add on a two-year warranty, and still have a car with value at the end of the two years if you decide to sell it or trade it in for another used car.
Used Cars Offer More Finance Options
If you don’t have the best credit, a new car dealership is unlikely to be able to work with you. At Century Auto Group, we specialize in getting you the best possible rates regardless of your credit history. If you have a job and no recent repo, our in-house team should be able to help you get in a vehicle today. Call 619-281-2300 to learn more or start your application right here on our website.