When it comes to buying a brand-new car or a used car, many people can waiver in between. The idea of buying a new car off the lot can sound very alluring, but is it really a worthwhile investment? Purchasing a used car has many benefits, and when you buy from a reputable used car dealership in Evansville, you can’t go wrong.
If you’re still on the fence about potentially buying a new car, check out the ten benefits of buying a used vehicle instead.
1. Used Cars Factor in Their Depreciation
Let’s be candid: Cars depreciate. As soon as you drive a new car off the lot, it depreciates about 20% in the first year. Although technology and advancements in the automotive industry are making vehicles last longer, most vehicles lose their value early in their lifespan. How much a car can depreciate is based on several factors, including age, mileage, brand, service records, accident history, and more. Depreciation is an inevitable cost, which gives more benefit to buying used instead.
Buying a used car avoids the initial depreciation. If you go to a used car dealership in Evansville that values transparent pricing, the price you’ll see and pay will be for what the vehicle is worth, not the marked-up MSRP (Manufacturer’s Suggested Retail Price) value. Used cars will still depreciate, but simply at a slower rate than if you bought a brand-new one.
2. Certified Pre-Owned (CPO) Options
One barrier that tends to intimidate prospective buyers is the idea that when they purchase a used car from a dealership, they’ll have no protection regarding their warranty. With new vehicles, the assumption is that their warranty is worth the premium they pay. However, in today’s market, practically all car manufacturers have some version of a Certified Pre-Owned (CPO) program.
CPO programs will vary depending on the manufacturer, but they offer different levels of warranties. Some warranties may hinge on mileage or time, but they offer additional perks and incentives like free roadside assistance or loaner vehicles in the interim. It’s important to remember that there is a difference between manufacturer and dealership warranties.
3. Car Insurance Will Be Cheaper
Car insurance is based on an amalgamation of several factors. It considers things like your vehicle’s value, age, mileage, the location you live in, and what coverage you want. This is where buying a used car can help save you money. Used cars tend to be cheaper for insurance companies to insure. The more valuable or newer a vehicle, the more it will cost to replace or repair.
Insurance companies also consider depreciation when giving out rates. Replacing a brand-new BMW will be significantly more expensive than one that is three years old and purchased used. There may not be many differences between the two models, but it’s guaranteed any insurance company will notice.
4. More Variety and Selection With Used Car Inventory
It can feel like new cars are released often, but contrary to popular belief, only a select amount is released yearly. This means there is a smaller variety of new models to choose from. On the other hand, when you shop around at a used car dealership, you have much more variety to select from. Purchasing a used car gives you an opportunity to browse a larger spectrum of makes, models, and even features.
Depending on what features you are interested in, you can find it in a used car. Used doesn’t have to be synonymous with ancient. Used cars have modern or even advanced luxury features. It all hinges on what you like.
5. Vehicle History Reports Make Used Purchases Less Risky
A major concern of many used car buyers is the worry about purchasing a lemon. This is now a worry of the past, as long as you do your research. With the emergence of vehicle history reports, CarFax, AutoCheck, and other documentation being readily available, you can find more peace of mind when buying a used vehicle.
These kinds of reports should reflect accurate and up-to-date information. This can be in the form of accident or repair reports, maintenance records, and past owner information. But they are not failsafe. Producing these types of reports and documentation is a good sign but is even more fortified when coupled with an inspection. Buying a pre-owned car lets you see a car’s past and gives you an idea of how it will perform in the future.
6. Improved Technology and Features Make Cars Last Longer
A while back, it may have made sense to avoid buying a used car as cars weren’t as durable and long-lasting as they are now. Five-digit odometers are no longer a thing for a reason. In today’s world, cars and their parts have been advancing to be more reliable than ever before. The lifespan of vehicles has increased significantly, and many makes and models can easily reach or exceed 200,000 miles.
Used car shoppers cannot throw caution entirely to the wind, but it’s still important to have potential purchases inspected by a trusted mechanic. Simply because a vehicle has the capability to reach 200,000 miles does not always mean it’s been given the attentive maintenance to do so.
7. Extended Warranty Protection
Factory warranties can be transferred to new owners, but if the coverage period has expired, used car buyers can take advantage of extended warranties instead. Any credible used car dealership will offer you a variety of options when it comes to the used cars in their inventory. Even if the car doesn’t qualify as a CPO, you should still have alternatives available.
8. Used Cars Have Aftermarket Communities
When you purchase a vehicle, new or used, it brings feelings of uncertainty. With newer models, this feeling is exasperated since few resources are available outside of the manufacturer. Meanwhile, more insightful information will be available about used cars if the vehicle has been around for a while. The aftermarket communities will already be established, so finding information about common problems, vehicle-specific forums, troubleshooting, and answers to any questions will be invaluable.
Newer models are subject to unexpected changes and recalls as the vehicle performance is still developing. This is not the case with used cars since most of their problems are known and resolved.
9. Budget Considerate
Oftentimes, there is some negotiation room on the price of a used car. Always look for a used car dealership that is willing to work with you and respect your budget. Used cars are very cost-conscious. No matter your budget, there is likely a vehicle that will fit within it.
Additionally, when compared to new cars, used cars can have better financing and loan options, especially since used car loans are typically shorter than those for new vehicles.
10. Reduced Environmental Impact
Finally, reducing the demand for new cars can positively impact reducing our carbon footprint. The manufacturing process for new cars can be very resource-intensive and produce significant waste as by-products.
When you purchase a used car, you help reduce that demand and promote reusing existing resources. Additionally, many cities have high levels of air pollution, and buying a used car with a lower emission rating can help reduce your environmental impact.
Find Your Next Used Car at The Best Used Car Dealer in Evansville
Buying a used car has many benefits and advantages. Not only does it keep more money in your pocket, but it also offers you a wide variety of selections that newer models cannot compete with. The next step in this journey to getting on the road is selecting which used car dealer in Evansville you want to go to. Look no further than Edge AutoSports!
We offer hundreds of used car options and are home to a team of reputable, honest, and experienced staff who will gladly answer any questions and guide you through the process. If you’re ready to find your next vehicle, we’re ready to help! Drop into our Evansville dealership or give us a call at (812) 470-0070 today.