Buying a new car may have its own charm. But is it a financially sound decision?
Do you know that you will spend around $13,500 on a new car?
But that new-car smell is surely alluring. You just need a new air-freshener to get that.
Are you willing to spend so much money on a new car? Is it really worth it?
We don’t think so, here are some reasons that suggest why buying a used car is a smart choice.
1. You Will Save Money
First and the most obvious reason for buying a used car is that you will be able to save money. In fact, as mentioned above, you will be saving at least $13,500. Furthermore, new cars tend to depreciate faster than old cars.
Think of this scenario. You go to a showroom and sign the paperwork for your new car. You take it out and drive it around town for a few hours. Once you take the car back to the dealer, it will not be a new car anymore. It has become a used car in a matter of a few hours. Thus, you will not receive the same amount that you paid for it.
Experts suggest that your car value will just be 54% of what you initially paid for.
Talk about depreciation!
But depreciation isn’t the only thing you have to worry about. You will also have to pay less sales tax when you buy a used car as compared to a new car. You will also save money on registering a used car in some states as compared to getting registration for a new car.
All these savings will come in handy when you need money for the maintenance of your used car. It is always great to have a rainy day fund instead of spending all you have on buying a new vehicle. But of course, if you think you can afford it, you can go and buy a new car.
You will find plenty of well-maintained used cars for sale in Sarasota, including certified used Fords. You just have to do a little research.
2. You Will Have a Wide Variety to Choose From
If you are looking for a wide variety to choose from, then the used car market is your best bet. Buying a new car means you will be restricted to just a handful of models. You may not like the shape of one car or the features of the other.
If you are looking for a whole package that satisfies all your needs and wishes, then buying a used car is your best option.
Car manufacturers also give up on certain models as new things come up. For instance, you may want a small pickup because that suits you the best. However, finding one can be hard if you are buying a new car.
The current market is dominated by crossovers, and you will hardly find a new model for a small pickup.
On the other hand, you will have plenty of choices if you take a look at the used car market. From old Chevy Colorados to Toyota Tacomas, Ford Rangers to S-10s, you will have plenty of choices. This makes buying a used car the best choice if you have specific needs.
3. Used Cars Are Reliable
Another great thing about buying used cars is that you have plenty of data available. If you are someone who worries about the reliability and performance of their vehicle, then buying a used car will work out great for you. Car manufacturers redesign their vehicles every 5-7 years. This redesign is not only limited to the design of the vehicle and may also include a new transmission, engine, suspension, and other electronics.
One cannot be too sure about the reliability of these new features. Previous models, on the other hand, have passed the test of time, and you will find many experts who will vouch for their reliability. Not only that, but you will also be well-informed about the common problems you might face with these used cars. Tracking the depreciated value of these cars is also easy.
Thus, if you don’t want to worry about the reliability of the car you purchase, then opt for something that you are sure about. And, this surety only comes with cars that have been around for some time.
4. You Can Save on Insurance Costs
There are many costs associated with buying a car. You don’t just have to pay for the vehicle; you also have to think about other costs, like insurance. Insurance depends on the value of your car – the higher the value of your car, the higher the insurance cost. This is because the insurance company will have to pay more if a new car is damaged as compared to a used car. A used car, on the other hand, will cost less in case of any damages.
Thus, if you want to save money on insurance, then buying a used car is the best option. As mentioned before, you need to think about the extra costs that you will have to bear when buying a used or a new car. Compare these costs and then figure out if you can really afford to buy a new car or not.
If you are buying a used car, then you must do your homework. Choose a reliable dealer to ensure that the car you purchase is in the best condition and will not give up on you. Sarasota Ford offers highly-maintained used cars for sale in Sarasota. We specialize in certified used Fords at the best rates. We are well-known for our reliability and well-maintained used vehicles. Get in touch with us to know more.
Don Wilson has a decade in automotive service and customization in his CV, being a Ford Certified Technician working in Sarasota car dealers in Sarasota Ford. He enjoys spending time with his 3 kids and working on his customized 1970 Mustang Mach.
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