For many people, buying a used car isn’t really an option—but it should be. Gone are the days where used cars were considered lemons that will only end up costing more money. If you are looking for a new car, rather than going with something shiny and new, consider these reasons to buy a used car.
Pay less. Purchasing a used car can save you thousands of dollars right off the bat. Used cars have less sales tax, lower insurance costs, and typically lower registration rates (depending on your state). All of these savings can add up, making a used car cheaper overall to purchase.
Low depreciation. Another area that used vehicles can save you money is in its depreciation value. When you purchase a brand-new car, the moment you drive off the dealership lot the car drops significantly in value. According to NY Daily News, the value of a new car can be just 54% of what you paid for it after three years. This isn’t the case with used cars.
Get more bang for your buck. If you are the type of consumer that wants all the bells and whistles in your vehicle, yet don’t want to pay a high price, then a used car is the right choice for you. Buying a higher trim level on an older model—even one that is only a year or two old—will give you plenty of wiggle room in your budget to get all the features you have dreamt about.