If you’re looking at buying a new car, you might want to reconsider. Here are five excellent reasons to buy used.
1. Used Cars Are Less Expensive
Used Cars are much cheaper than their newer counterparts. And not simply because they are older, a 2009 used car will cost thousands less than a new 2009 car.
2. Used Cars Hold Their Value Better
A car, used or new, will depreciate the older it is and the more it is used. However the minute you drive a new car of the lot it loses a significant portion of its value. This means if you go to sell your new car you will have already lost thousands of dollars. On the other hand, if you buy used, when you go to sell your car you will be able to get most of what you paid for it back.
3. Used Cars Are Greener
It takes a lot of resources and energy to produce a new vehicle. Buying used does not cause any additional harm to the environment. Remember that next time someone smugly tells you they are looking at the new Prius.
4. Insurance Costs of Used Cars
Insurance premiums are lower on used cars because the full value of the car is often lower. Which means that regardless of what your driving history looks like, you will save a considerable amount on your insurance buying a used car compared to a new car.
5. Availability Of OEM Parts
If you buy a used car older than 5 years, especially for popular models, there is a whole industry devoted to creating cheaper replacement parts for your cars. In many cases these the exact same parts that were used in the new car but do not carry car-makers logo. This is because the car-makers outsource the manufacturing of the parts to smaller companies and their contracts typically prohibit them from undercutting the car-maker in the first 5 years. So you benefit when you go to get your car service because you can buy replacement parts without the hefty mark-up
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