Do you want to buy a vehicle for personal or business purposes? It can be tempting to walk into the dealership and buy a brand-new car in all its shining glory, but you should pause and give it some thought before you make your purchase. Will it really be worth it, in the long run, to get into debt to pay the high car price?
Here are some reasons why you might be better off heading instead for the Forest VA used car lots:
Used cars offer more extensive model choices than new cars
You will be able to find an extensive range of used car models going back to five years or more in the Forest VA used car lots. There may even be discontinued vehicles that you can no longer find in a new car showroom. It will be a good idea to take your time to research the different available models. Read and compare consumer reports and buyer reviews before making a buying decision.
Used cars can get you more bang for your bunk than new cars
Instead of paying through the ceiling for an entry-level car, you will be able to get a higher trim model with more advanced features for the same or lower price in the used category. Consider what makes more sense and take yourself off to the Forest VA used car lots to make your selection. If you are taking an auto loan, keep in mind that the lower price of used cars translates to lower repayments. You will be able to pay off the debt more quickly and save your money. You could use it to upgrade or refurbish the car.
Used cars suffer lower depreciation in comparison to new cars
New cars start to lose 20% of their value from the moment you drive them off the lot. So, if you have spent $30,000 on the vehicle, it is going to lose $6000 in value from day one. And the more mileage it gains, the more it will depreciate. It might not matter much to you in the first few years when you are driving around comfortably, and everything is working just fine. However, the way things stand will become clear if you decide to sell it. You will be lucky if you get $10,000 for it.
On the other hand, if you start by paying $10,000 for a used car that can give you the same road service, you are getting a bargain. Yes, the used car will depreciate too, but it will matter less. At least, you won’t have to shoulder an expensive loan, including interest, and you will be able to save more of your money instead.
Used cars can be as reliable and road-worthy as new cars
Given the vast developments in car technology, you probably won’t be able to discern too many differences in the driving qualities of new and used cars. Take them for test drives and check for yourself. The models that are one to five years old are almost as good as new vehicles but come with the distinct advantage of a lower purchase price. And, with regular maintenance, you will benefit more. They will continue to perform well on roads and provide you with stellar service for many more years.
Used cars have lower insurance and registration rates than new cars
Insurance and car registration rates are dependent on the value of the vehicle. So, it will cost you more to buy the insurance and pay the registration fees for a new car than for a used one. Instead, if you buy a used car, you will be able to save a lot of your money. You can even shave off the expenses further by dropping some of the insurance elements that don’t matter as much with a used car. For instance, you could cross off collision or theft coverage.
As you see, buying a used car is almost always a better deal than buying a new one. You will have a quality vehicle you need to get around without a hitch. Additionally, it will be a financially sound decision that will result in increased savings for you in the long-term.