While the smell of a new car may lure you into buying one, that scent only lasts for so long. The value also takes a plunge as soon as you drive the vehicle off the showroom floor. Therefore, choosing a car from a selection of quality used cars may work out better for you, especially if those cars are well engineered.
Save Money When You Choose Used
The best reason for considering a used car is the cost savings. Based on research, Australians can spend about $14,000 less by selecting pre-owned vehicles over their new counterparts. Again, you have to factor in depreciation. A new car loses its value fast, which can make buying a new car less exciting and attractive. All you need to do is drive the car off the lot and it suddenly becomes used.
According to consumer reporting, the price that you pay for a car will take a nosedive of 50% after three years of ownership. However, this statistic does not pertain to all used vehicles. For example, some used cars for sale in Canberra are notably close to their original cost. That is because they are considered quality cars. An example is Toyota’s FJ Cruiser.
Buy an Extended Warranty
When buying a pre-owned car, you will also pay less tax and the insurance is normally reduced as well. However, one cost offsets another cost, particularly with respect to maintenance. If you choose the right dealer, though, you can buy your pre-owned car with an extended warranty or a mechanical protection plan. That way, you will still spend less by choosing to buy used over new.
An Increased Lifespan
Happily, used cars today last longer than the used cars of yesterday. Because of today’s innovations in design, you can expect a used car to last longer. According to auto industry insiders, the number of cars approximately 12 years of age will increase by 15% in 2020.
Vehicle History Reports
You can also obtain vehicle history reports online about specific vehicles, which makes the choice of a used car more desirable. For example, reports feature the following information:
- The number of prior owners
- The previous registrations
- Reports of repairs, accidents, or flood damage
- A confirmation of the kilometres
More Financial Peace of Mind
Although the history of a vehicle does not necessarily list all that you may want to know, the data is helpful in guiding your decision. Whilst purchasing a used car may present more of a risk than driving off the lot in a new car, it can still offer you more financial peace of mind. Just make sure that you work with a dealer that offers a quality lineup and extended warranty protection. That will make buying a used car a wiser way to go.