When many people want a new set of wheels, they look straight at the new releases. However, there are lots of benefits to buying a used auto that some people don’t even consider. Let’s take a look at the main advantage of buying used now.
1. They Cost Less
The most obvious advantage of buying used is the savings. Some used cars cost 50% less than newer models! If you’ve been saving for a few years, then you might be able to buy a used vehicle upfront. If you’re paying monthly, then you’ll pay it off much faster than you would if you bought a newer model. The savings will let you buy an even nicer used car next time.
2. They Depreciate Less
New cars depreciate quickly. Their value can drop about 11% on the drive home. As months and years go by, the vehicle depreciates even more. However, when you buy used, most of the depreciation is in the past. Depending on the model, your car could even gain value. When it comes time to sell your used car, you’ll be able to sell it for a price decently close to what you paid for it. That isn’t the case when you buy new.
3. They Have No Hidden Fees
Some new vehicles come with hidden fees that you have to pay, such as destination fees, “dealer preparation,” and more. The only extra fee you’ll usually pay when buying a used car is a doc fee. Hidden fees with new cars can often be a few thousand on top of what you’re already paying.
4. They Cost Less to Customize
New cars come with tons of packages, add-ons, and other ways to customize your new ride. It’ll cost less to buy a used car that already has tons of custom features equipped. Plus, if you want to install custom features later on, then it’ll cost less than it would have if you opted in for them when buying a new car. Talk to your dealer about customization options, and we’ll give you a fairer price than a dealer selling exclusively new models.
5. They Have Lower Insurance Premiums
Most drivers buying new vehicles need to pay extra on their insurance to get gap insurance. This covers the depreciation of the car between the time of purchase and the time the driver gets into an accident if one occurs. Used vehicles don’t require gap insurance, so you’ll save even more money.
Looking for a used car that suits you? Stop by Rath Auto Resources Fort Smith to see what we’ve got in stock.
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