Are you willing to purchase pre-owned car? You might be looking for advantages or reasons to buy used car instead of a brand new one. Several auto lovers just jump in to buy a brand new luxurious car without even exploring the availability of best quality pre-owned vehicles at mouthwatering prices.
You can actually save hundreds or even thousands of dollars by purchasing a second hand car instead of a new & shiny one, especially when you are in a tight budget.
You should carefully look into a number of factors to choose & then buy a more reliable used car that can transfer almost everything that a new automobile does. Here are 10 smart advantages or reasons to buy used car instead of a brand new car:
(1) Take Advantage Of Depreciation
It is one of the biggest advantages or reasons to buy used car over a new car. A brand new automobile is a depreciating asset that starts its depreciation (as much as 20%) since your first ride from an automobile’s showroom to the garage of your home.
According to some studies, most o the new cars depreciates around 30% to 40% of their original value within 3 years of their purchase.
When a auto lover purchases a secondhand car then all the depreciation has already been absorbed by the original or first-time owner of the vehicle. However, with a secondhand car, very less or negligible amount of depreciation hits during your first ride.
When a four-wheeler depreciates with such a faster rate then it also increases the need for GAP insurance (GAPS) coverage. In fact, you can appreciate the value of a pre-owned car with value enhancing upgrades.
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