Should You Buy a Used Car?

Should You Buy a Used Car?

There is a belief that used cars are not worthy investments, but this is a myth. You can still get a good ride in second-hand car dealerships and classifieds. In this article, we explore three reasons why used cars are still a great deal.

1. Affordability

According to research, a used car’s average price is half the average price of a new car. Then, there is the issue of sales tax. With second-hand cars, the sales tax is lower because you pay sales tax based on the value of the vehicle at the time of buying. The higher the value, the higher the tax. The insurance rates are also based on the car’s value, so with a cheaper used car, your insurance costs are even lower.

2. Value for Money

With used cars, you can get your preferred vehicles without paying the substantial costs of a new one. For example, you can buy a 2015 Porsche for the price of a 2019 Honda. Besides, the depreciation of used cars is slower than that of new vehicles. It is true that much of a vehicle’s depreciation occurs during the first few years of use, with lesser depreciation as time goes by.

3. Vehicle Reports

One of the fears of buyers is that they don’t know the car history. Fortunately, you can get a vehicle history report. Websites like Autocheck.com and Carfax.com will give you a report on the car’s ownership, maintenance records, accidents, and repairs.

While used cars can be an excellent value for money, due diligence is critical. You don’t want a sad experience with a junk. Get a trusted dealer and insist on getting the vehicle’s report.

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