Should I buy a new car or a used one? Perplexed about it? But financial issues often break off people from buying a new car. The other biggest issue is rapid depreciation!! When you purchase a new car then, within the first year the value of the car drops about 20 per cent and approximately 15 per cent each year after that. Moreover, the higher upfront price tag and monthly payments make you frustrated. Isn’t it so atrocious feeling somewhere? Don’t you think that you should jump to used cars rather than investing in new ones?
Buying a used can save you enormous money although provides you with the same satisfaction as new. If you choose a good quality second-hand car after the inspection from the mechanic. There will be a plethora of benefits if you choose to purchase a used car.
Let’s Figure out the Benefits If you Buy Used Car Instead of New
Used Cars are Environment- Friendly
Used Cars have less impact on the environment as compare to new. If you are looking to buy an eco-friendly car on an affordable budget then, used cars could make more sense. Shifting to second-hand cars means reducing the Carbon dioxide output into the environment. During initial shipment & manufacturing, the majority of carbon dioxide is produced by the vehicle in its life cycle.
Less Deprecation- Bulk of value Has Already dropped
The vehicle loses its value in terms of deprecation as weeks, months, and years pass. The majority of people frustrate with this how quickly cars get depreciates. But if you buy a used car then, it won’t be such a case because the bulk of value has already lost.
Buying Used Cars would not Break your Bank
Most probably, the price of used cars is approximately 50% of the cost of new. Paying off a used car will be much easy as a piece of cake. You will not have much financial burden on you. Although, you have a plethora of financial options such as taking a loan from through a local bank or credit union. Because you won’t lose money on depreciation, therefore, it will be more affordable for you.
No Exaggerated Fees
Exaggeration Fees means any kind of hidden or crazy fees such as shipping charges, destination fees, and “dealer preparation. What kind of fees should I need to pay when buying used cars vs. new cars? Note that all new cars have some hidden advertising fees and that’s a little high. But while buying a scrap car Adelaide, there are generally no hidden charges.
Lower Insurance Premiums
If you met an accident with the new car then, the insurance company will pay off the car’s worth. But they will pay the difference that you have paid for a new car and its depreciated value at that time. So, this will raise your insurance premium. In the case of a used car, depreciation has already occurred.
Lower Annual Registration Fees
Most probably, the annual registration fees depend on the car’s value and its model. But you can save thousands of dollars by avoiding new high annual registration fees just by buying used cars that are three years old. The reason behind this is that the rate is high generally in the first three years and drop after it. If you want to get top price for your used car in Adelaide, you can go with www.adelaidewrecker.com.au.
Certified and Thoroughly Inspected
You should go for certified pre-owned vehicles because they have been inspected, refurbished, and certified by the manufacturer. Although from other certifying authority too. They give assurance of high quality.
Some of the used cars may have an original warranty for their parts and while others may have the option of re-creating the warranty. You can get an extended warranty from a manufacturer that they provide their trained technicians for repairing the car with good quality parts. In this manner, you can save your money by extending warranty assurance that covers everything until 100,000 miles or more. Is a new car have such amazing options? Of course, not!!
In a nutshell, buying used cars is much fruitful for the people who are not deep-pocketed. Therefore, consider all the above points and make the right choice. Hopefully, now you will not get stuck in two options i.e. new car vs. used car.