8 Benefits of Buying a Used Car


There are many reasons for buying a used car. A lot of people turn to buying used cars instead of new ones because of the ample benefits. Used cars are cheaper than new cars, they don't depreciate as quickly, their reliability continues to increase, and there's a wide selection.

Whether you live in Pueblo, CO, New York, or California, you may be interested to know that these benefits are universal and apply to anyone shopping for a used car.

Price

Initial costs for buying a new car are considerably more than a used one. If you plan to finance the car, the lender may require a large down payment. Paying less up front means you pay more for your monthly payment.

Either way, your cost is high. Not to mention sales tax, which is typically a percentage of the purchase price. The higher the price, the higher your sales tax. Yuck.

Avoid these skyrocketing costs by buying used cars, because they're cheaper. Even if you still plan to finance, your down payment and monthly payments are less, and your sales tax is more reasonable.

Avoid Depreciation

New cars depreciate immediately after driving them off the lot. They decrease in value significantly in the first several years of ownership. Statistics show that a new carit will lose at least thirty percent of its value in the first two years.

You can use guide estimators to predict what a car will be worth in the future, and with this information, ensure that you shop for the makes and models most likely to retain their value.

Trade-in estimators may also help you decide what to do with your old car or how you can put that cost toward something a little newer.

Buying a used car means your car has already depreciated a considerable amount. You don't risk high depreciation immediately, meaning you get a better value and retain that value for longer.

Leasing

Leasing isn't a great alternative to buying used because you pay for a car but never earn any equity. However, lease payments are based on residual and resale values, so they can give you a good idea of what a car is actually worth.

Use this information to your advantage, finding the most reasonably priced used cars and ensuring you don't pay more for it than it's worth.

Registration Fees

In many states, the cost of your annual registration is based on the age of your car and its value. Your rates are normally highest in the first three to five years after the car was manufactured. You can avoid these high recurring costs by buying used.

Useless Features

Dealerships try to upsell customers with added features and options. They add pinstriping and protective coatings and then charge more for them than you would pay at an after-market installation facility.

These features fail to add to your resale value, and you can find many of these features already installed on used cars so that you can get the same car with the same options, three years older, for a much lower cost.

If you buy a used car, you may have to give up a few things on your list, but you won't pay for anything you didn't ask for. If you do want something like a sunroof or navigation, you'll pay a lot less than the original owner for a feature that's still in pristine condition.

Dealership Fees

Not only do you pay for extra features, but you get charged with fees too. Destination fees, delivery fees, and dealer preparation fees gain you nothing in value and only result in a larger hit on your bank account.

Buying a used car puts you in a more powerful position to leverage the actual value of the car against other options in the market. You can negotiate more effectively or walk away if the seller can't meet your requirements.

Buying a used car also helps you better prepare for your monthly payments by choosing something that fits perfectly in your budget. You avoid complicating your finances and leave feeling good about your choice.

Condition

Cars are built to last until at least 100,000 miles. There's no need to sacrifice the condition of a car for a good price tag. Many used cars have very little visible damage or wear and tear on the mechanics. You are highly likely to find a used car in like-new condition.

If you don't know a lot about cars, you can purchase extended warranties to cover your purchase in the event that you have a problem. You can also turn to certification programs that perform multi-point inspections and can guarantee that the car is in good working order.

Availability

As cars last longer and longer, the availability of used cars increases. You can find used cars with any feature, from any manufacturer, for sale at used car dealerships. Most of the time, you can find multiple options, putting you at an advantage for negotiating price.

As the cost of living continues to rise, it's important to save money wherever you can and get the best value for your money. Buying a used car is one of the best ways to maximize your purchase power.

You can buy cars online at used car websites, or shop around your local dealer. Used car dealers in Pueblo, CO, like Southwest Motors, can help you find used cars that fit your lifestyle and your budget. Check out their inventory online, or if you are local to the 81008 area, experience a trip to a hassle-free car dealership in person. [According to instructions, zip is to be incorporated in article.  Just making sure this was not overlooked.  My apologies in advance, if I'm mistaken about this.]Come by today and find out why people love shopping here!

Contact

Southwest Motors

2600 W Us Hwy 50
Directions Pueblo, CO 81008

  • Sales: (719) 545-5700

Hours

  • Monday 9:00AM - 7:00PM
  • Tuesday 9:00AM - 7:00PM
  • Wednesday 9:00AM - 7:00PM
  • Thursday 9:00AM - 7:00PM
  • Friday 9:00AM - 7:00PM
  • Saturday 9:00AM - 7:00PM
  • Sunday Closed
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