Why Buy Used?
Buying a new vehicle is an experience that many people want. However, there are significant advantages to buying used that simply cannot be replicated if you purchase new. In fact, for every pro available for buying a brand-new car, there is an equally compelling pro for opting for a used vehicle instead.
These days, there are several different categories of used vehicles. When someone talks about a used car, they might be talking about a certified pre-owned vehicle.
A certified pre-owned vehicle is typically only a few years old. It is in good mechanical condition -- and it has the extensive inspection to prove it. Additionally, during that inspection, if the mechanic notes anything that needs to be replaced or that is worn, it will be swapped out for a new part.
Certified pre-owned vehicles tend to cost a bit more than those used cars that aren't able to pass the rigorous testing these vehicles need to undergo. However, this slight increase tends to be worth it. You get a late-model used vehicle that has undergone a thorough inspection at an attractive price.
In some cases, a certified pre-owned vehicle might even come with an extended warranty. In others, the car could be so new that it is still covered under the manufacturer's warranty.
So what are some of the biggest reasons to opt for a used vehicle instead of heading for the new car lot? If it's that new car smell that has you hooked, just remember you can buy a car freshener that replicates that wonderful smell.
Your car purchasing budget will go much further if you buy a used vehicle instead of one that is new. In fact, the same amount of money that can buy a base model vehicle of the current year can be used to purchase a higher-end version of the same vehicle that is only a few years old.
Did you know that if you purchase a brand-new vehicle, its value starts to drop as soon as you drive it off the lot on your way home? In fact, you can expect that new vehicle to lose more than 20 percent of its value during the first year you own it.
Not only that, but vehicles continue to depreciate by about 10 percent each year thereafter. When you purchase a used vehicle, though, your investment won't depreciate as quickly as it did when it was brand new.
It might not surprise you to learn this, but it's still a fact worth mentioning. When you purchase a used vehicle instead of one that's new, you'll wind up paying less for it. Due to the depreciation mentioned previously, the purchase price of any used vehicle will reflect that.
Another way you'll be able to save money when you buy a used car is when it comes to insuring it. While you'll still need to have full insurance coverage on the vehicle if you finance it and your financial institution requires it, you'll still pay less compared to a brand-new vehicle of the same cost.
Numerous factors make up the total cost of the insurance for the car you drive. However, one of the most important factors is the value of the car. A vehicle that has a higher sticker price will cost more to insure.
It's important to note that you'll have financing options if you decide to purchase a new vehicle too. Because a used vehicle cost less than one that is new, though, you'll need to borrow less money.
This could open up most financing options for you. For example, you might qualify for better interest rates or more attractive lending terms.
At Marthaler Honda of Ashland, we're dedicated to providing our customers with plenty of options so they can find a vehicle that works for their budget, lifestyle, and life. Learn more by contacting us or stop by to browse through our selection of new and used vehicles.
Is a Used Car the Same as a Certified Pre-Owned Car?
These days, there are several different categories of used vehicles. When someone talks about a used car, they might be talking about a certified pre-owned vehicle.
A certified pre-owned vehicle is typically only a few years old. It is in good mechanical condition -- and it has the extensive inspection to prove it. Additionally, during that inspection, if the mechanic notes anything that needs to be replaced or that is worn, it will be swapped out for a new part.
Certified pre-owned vehicles tend to cost a bit more than those used cars that aren't able to pass the rigorous testing these vehicles need to undergo. However, this slight increase tends to be worth it. You get a late-model used vehicle that has undergone a thorough inspection at an attractive price.
In some cases, a certified pre-owned vehicle might even come with an extended warranty. In others, the car could be so new that it is still covered under the manufacturer's warranty.
Advantages of Buying Used
So what are some of the biggest reasons to opt for a used vehicle instead of heading for the new car lot? If it's that new car smell that has you hooked, just remember you can buy a car freshener that replicates that wonderful smell.
1. You can purchase more car for less money
Your car purchasing budget will go much further if you buy a used vehicle instead of one that is new. In fact, the same amount of money that can buy a base model vehicle of the current year can be used to purchase a higher-end version of the same vehicle that is only a few years old.
2. You'll experience less depreciation
Did you know that if you purchase a brand-new vehicle, its value starts to drop as soon as you drive it off the lot on your way home? In fact, you can expect that new vehicle to lose more than 20 percent of its value during the first year you own it.
Not only that, but vehicles continue to depreciate by about 10 percent each year thereafter. When you purchase a used vehicle, though, your investment won't depreciate as quickly as it did when it was brand new.
3. You'll pay lower prices
It might not surprise you to learn this, but it's still a fact worth mentioning. When you purchase a used vehicle instead of one that's new, you'll wind up paying less for it. Due to the depreciation mentioned previously, the purchase price of any used vehicle will reflect that.
4. You'll pay less in insurance costs
Another way you'll be able to save money when you buy a used car is when it comes to insuring it. While you'll still need to have full insurance coverage on the vehicle if you finance it and your financial institution requires it, you'll still pay less compared to a brand-new vehicle of the same cost.
Numerous factors make up the total cost of the insurance for the car you drive. However, one of the most important factors is the value of the car. A vehicle that has a higher sticker price will cost more to insure.
5. You'll have financing options
It's important to note that you'll have financing options if you decide to purchase a new vehicle too. Because a used vehicle cost less than one that is new, though, you'll need to borrow less money.
This could open up most financing options for you. For example, you might qualify for better interest rates or more attractive lending terms.
At Marthaler Honda of Ashland, we're dedicated to providing our customers with plenty of options so they can find a vehicle that works for their budget, lifestyle, and life. Learn more by contacting us or stop by to browse through our selection of new and used vehicles.