Why Buy A Used Car Over New
Purchasing a vehicle is a big decision but the age-old question is: "Should I buy a new car or a quality used one?" Let's get into why you should choose a used vehicle over a new vehicle.
Buying a new is truly an exciting time! That new car smell, all of that new technology, and ........it's HOW MUCH!?!? Yes it's an exciting moment but one of the biggest drawback of purchasing new is the price tag. Other than a house a car purchase is the 2nd largest purchase a consumer will make and some of those new cars can reach upwards of $60,000 and that is a whole lot of money. A big price tag also means even more sales tax and bigger insurance costs as well. Plus your vehicle depreciates almost 20% the moment you drive off the lot. Because of this a lot of people prefer to look at a quality used car like the ones carried at Richmond Car and Truck Center.
The Advantages of Buying Used:
Much Smaller Depreciation:
As I mentioned above the average new car deprecates 20% the moment you drive off the lot. That depreciation continues through the first year as it loses another 10% of its value. So if you bought a $30,000 new vehicle in 2017 you are now the proud owner of a vehicle that's worth $21,600 in 2018. That's a huge loss! With used vehicles the depreciation is much less severe because the previous owner has already absorbed the majority of the vehicles deprecation. With a smaller sales price for a used car also comes a smaller sales tax and lower insurance premiums.
Cars are now built to a level of quality that was never seen just a few decades ago. It used to be that a car would be good for around 100,000 miles and then the problems started. That's not the case anymore with a quality used car that's been cared for by its previous owner. Regular oil changes, checking the essential fluids and changing spark plugs can keep a vehicle running for as long as you like.
Some automobile brands even have a High Mileage Club. Volvo and Mercedes-Benz has a High Mileage Award for owners who reach 250,000, 500,000 and 750,000 miles and beyond. Richmond Car and Truck Center can also help you with this by providing a CARFAX report that shows the history of the car as well as any maintenance that has been reported.
Money, Money, Money!:
This is probably the biggest reason to consider buying used over new. There are so many ways that you can save money just by looking at a quality pre-owned vehicle like the ones that we have at Richmond Car and Truck Center. Not only are you saving a bit of cash up front but your saving it down the road with taxes, insurance and registration fees! All of that adds up and helps you save money in the long run. Now with that extra money you can even look at even more car. Instead of settling on a brand new economy car you have the option of checking out an awesome pre-owned luxury car instead.