Everyone likes a new car. Buying a used car in many cases is just as good. The following are some of the advantages of getting a used car over a new one.
Rate of depreciation
The value of a new car typically goes down by 20% once it is driven off the dealership. Many cars lose another 10% off their value by the end of the first year. This means that a new car will lose close to 30% of its initial value in just a year of ownership. A car would lose nearly 9,000 during this period if you bought it at 30,000. It is easy to avoid this by getting a used car. One that is a year old is the best. It is possible to buy a used vehicle and drive it without a substantial loss in value. This depends on the choice of the car. The rate of depreciation tends to remain constant between the second year and the fifth year. You are protected from the initial hit that those who buy new cars get when you get a used one.
The main advantage of getting a used car rather than a new one is the price. The rate of depreciation works in your favor because it takes the value lower. You will be able to afford a car that was released three years ago. The warrant of the car might still be valid by the time you are getting it. This is because many manufacturers have increased the length of the car warranty to seven years. You can be assured that you will be covered when you purchase the car. It is possible to get a used car that is in good shape and does not have any mechanical issues. The car will still feel like new because of the condition.
The cost of insurance is dependent upon the value of the car. This means that you will pay higher premiums if you get a new car compared to a used one. This is because of the difference in valuation between them. Some elements of the car insurance can be done away with in the case of a used car. It is important to note that theft and collision might not be as important in the case of a used car. This will reduce the amount that you have to pay even more. You will be able to save money in the end because you will be paying for fewer things.
There is a certain fee that you will be required to pay when you buy a car. This fee varies according to the transaction price of the car. A new car will be bought for a relatively higher price. The fee will be comparably higher.
You may not be able to afford the car of your dreams when it is new because of the price. You may still be able to acquire the same car if it has been used. This is because its value will have depreciated considerably in the first couple of years. Cars would start to break down after being driven for 100,000 miles in the past. Cars are able to go twice the distance and still be performant today.
Carmakers used to release a new model every year. They have since changed the frequency with which they do this. This is an added benefit to those who buy used cars. A car that has been used for three years could still be the newest model from the company. This means that you will not have to worry about anyone finding out that you got a used car and not a new one.
Car dealers usually install additional features in new cars so that they can make more money. These features are highly priced compared to when you get them from an after-market installer. This means that the buyer will pay for extra features that they might not need. The features do not have an impact on the value of the car when you get a used car.
You can be confident that you will be paying the right price for it. You can look for cars that have specific features when you are looking such. You will be able to pay less to get them than what the original owner did when they bought it. Buying used cars in Amritsar has never been easier. There are many used cars in Amritsar to choose from so that you can enjoy these benefits.