Vehicle shopping can be frustrating and confusing. There are rebates and clearance sales and so many options. When looking for the best deal, shoppers are able to save a lot more by forgetting about the newest and latest models, and looking for a good used vehicle instead. Some car buyers may feel as if they are sacrificing something by not getting a shiny new car, but there are many reasons why they should not have to feel as if they are missing out.
Saving More Money
Yes, the ticket price is lower, but that is not the only savings. Some may people may believe that the lower interest rate that is usually available with a new car loan makes it more affordable, but since new car loans are often stretched out over periods as long as 7 years and loans for used vehicles are usually shorter, there is no definite benefit to the lower interest. What does affect it is the depreciation that takes place in the first couple of years. Once a vehicle is older, the drop in its value begins to level off. This means it is easier for people to get a larger percentage of their initial investment back when they trade in or sell if they have purchased used rather than new. Also, unlike new car buyers, used car buyers are usually able to safely forgo gap insurance on their vehicle.
Reliability History Available
When purchasing new, the shopper has to hope the most recent model is as reliable and durable as previous models have been. Used car buyers never have to be concerned with this because the vehicles they are considering will already have numerous reviews available from actual owners. In addition, it is possible to look up the history of the exact vehicle in question to know if anything has happened that may be concerning.
Warranties and Recalls
Used vehicles are still covered by any manufacturer recall. Most used car dealerships will search for recalls when they take in a vehicle, because it is important for them to sell one that is as reliable and safe as possible. For additional protection, all car owners can sign up for recall notifications for any vehicles they own through the U.S. government.
As for warranties, most manufacturers allow their standard warranties to be transferred. Since there are a couple of car manufacturers who do not allow this, it is important to discuss it with the salesperson before buying anything. Additionally, many used car lots offer their own warranty protection for a period of time after the sale.
Used car dealerships have many shiny like-new vehicles on their lots that are as attractive, fun, and reliable as anything brand new. Is there anything a new car has that most used models do not? Many would say it is that unique, "new car smell." Luckily, even that is no longer missing. Many retailers now offer that exact scent in their line of car air fresheners.
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