Used cars, or “pre owned vehicles,” are often thought of as always being an inferior choice to new cars. But there are many cases when that’s simply not true. Why buy a used car? Here are five good reasons:
- You’ll Pay Less Up Front
The most obvious reason for choosing a used car is that you’ll pay much less, even for a fairly recent model year. The price gap between new and used cars, on average, is a full $20,000. And don’t forget that used car financing is available, so you can split the cost up into more manageable payments exactly as you would for a new car.
- You Can Pay for What Matters
If you buy a new car, you’ll be paying for a lot of bells and whistles that come standard. If you don’t care about Internet radio or integrated Bluetooth or anything else along those lines, you can get a much better value on a car that’s a few years old — without sacrificing safety or reliability.
- Used Cars Maintain Their Value
Used car values, obviously, start off lower than those of new cars. But they can actually be a better investment because their values tend to drop much more slowly. With a new car, the value of your car drops sharply the instant you drive it off the lot. That doesn’t happen with a used car.
- Used Cars Can Be Certified
If you’re worried about the condition of a used car, you should know that certified pre owned (CPO) vehicles are essentially as good as new. That can give you some peace of mind even if you’re not much of a “car person” and can’t assess a car’s condition for yourself.
- Insurance Will Cost Less
In most cases, you’ll end up paying less to insure a used vehicle. That means savings not only up front, but every single month for as long as you own the car.
Have you had better experiences with new or used cars in the past? Share your thoughts in the comments.