When it comes to purchasing a new vehicle, many people wonder whether they should buy a new car or a used one. It's not always easy to answer this question knowing that there are advantages and disadvantages in both cases. In this article, discover the 5 advantages of buying a used car.
- 1.You won't pay for vehicle depreciation
When buying a new vehicle, its value decreases considerably during the first year, or even more. Unless you're purchasing a rare or exotic vehicle, a car doesn't gain any value while you own it. It's quite the opposite.As for a used vehicle, since it has already depreciated, it has stopped losing its value. This will vary depending on how you use it. If you take care of your car and drive a normal mileage, your used car will retain a very good resale value.
- 1.You'll have more choices according to your budget
A used car is certainly more affordable than a new car with similar features. So, you'll have more choices according to your budget, and you won't be restricted by a single monthly car payment for many years.
Whether the vehicle is new or used, you're required to pay taxes at the time of purchase. However, since the amount of a used vehicle is cheaper than a new one, you'll save on taxes. This can be a considerable saving when you calculate the amount.
Of course, it depends on your driving record, but generally, insurance costs less for a used car than a new one. Also, the law requires that protection against damages to others is mandatory, while protection against your own damages is not. So, you'll have the choice to insure your vehicle on both sides or not, which can be cost-effective.
It's often wrongly believed that the interest rate on a new car is much more advantageous than that on a used car. However, this is indeed a myth because at Occasion Beaucage, it's possible to get a rate as low as 0.9%.As you can see from reading this article, there are significant advantages to getting a used car. Especially when considering all the savings you can make! Want to learn more? Feel free to contact us.
