In today’s time, owning a car is no more a luxury, rather it’s a need for many of the city dwellers. We cannot afford to miss our important client meeting because of the hustle and bustle in public transport. Therefore, having a convenient mode of transport is the priority of everyone. When it comes to buying cars, people usually tend to get confused and in hurry, we often take the wrong decision and end up having a bad deal. There are numerous aspects to take into consideration while purchasing a car – the main being should you buy a new or a used car. If you are trying to manage your finances wisely, opting for a pre-owned car would be a wise decision. Though the idea of purchasing a new car may sound tempting, the quick rate of depreciation, higher price, and greater insurance, among others, do not work in the favor of new cars. Therefore, we have come up with 5 smart reasons of buying a second-hand car instead of a new car.
Buy a Second-Hand Car if you are a New Learner
Just imagine the situation if you hit your newly-bought car when you are still not an expert driver. Nobody would like to have a dent on their new car when they have paid a handsome amount for it. Therefore, the wisest solution to this problem is getting a second-hand car. For all such customers, who are making up their mind to get a pre-owned car, True Value Black Friday 2020 comes with amazing deals and offers. You can get latest designs and advanced featured in your car by paying less as compared to a new car. Therefore, be a smart customer, spend less and save more by getting the best deals on second-hand cars.
Get more advanced and better features by spending less Bucks
The automobile industry is coming-up with the latest advanced and sophisticated features. Every time a new model is launched in the market, it will certainly have more better and developed hardware features. Therefore, if you spend a huge amount on any one particular model of a new car, you won’t have many bucks left to own another newly launched car. Instead, if you spend fewer amounts on a second-hand car, you can exchange and get a more advanced feature of the same car. You will be at no loss in buying the same model of a car at a lower price. Therefore, it is more advisable to get a second-hand car instead of a new car to be on the upper hand.
Flaunt every time by changing your car model
If you are very passionate about cars, then here is the deal for you! You can change your car model every time if you haven’t spent much on a new car. On average, used cars prices are almost 50% lower than new cars! You will be able to pay off a used car much faster, saving you financing fees. Consumers switch cars at an average of six years after purchase, in this way they can even fulfil your dreams of having many different types of car in a low budget. You won’t have to think much when a sleek design of car ad has caught you attention. It is more advisable to spend less on a second hand car, than on a new car.
You have a plenty on your plate to choose from
There are plenty of options in the used cars segment and you can select a car that is scratch-free and in good mechanical shape. You can easily finalize one that is “looks like new”. Gone are the days when used cars meant shabby, worn-out exteriors and interiors and scratches all over. The users in today’s age do not have to sacrifice reliability and overall condition to strike a good deal on a used car. Moreover, when you purchase from big dealers, certified pre-owned vehicles with a manufacturer’s warranty often meet higher detailing, appearance and mechanical standards. Therefore if you are looking for the best deal in a minimum budget, it is more advisable to go for a used car than buying a new one.
You are not at much loss while selling a Second-Hand car
You must have heard about the decrease in the value of the car when you are selling it. The moment a new car hits the road, it depreciates and its cost goes down immediately. In the scientific terms of Economics ‘Depreciation’ stands for the actual decrease of fair value of an asset. Getting a used car saves you from this. Even the value of used car depreciates, but the money lost is always less than the new car. Though a used car will depreciate, you will lose money less quickly.
Apart from these 5 reasons, there are many more to validate the statement that “Buying a second-hand car is not a loss”. Second-hand cars also have less interest on car loans, lower EMI’s and less Registration Fees. As used cars come with a lower price tag, the amount you may have to borrow will be lower. The rate of insurance is generally based on the age of the car. Newer the vehicle, higher is the cost towards insurance and vice versa. The rate of insurance for pre-owned vehicles is therefore lower. Besides insurance, you also have to pay a lower amount towards registration fees. As the cost of registration is based on the transaction price of the car, buying a used car reduces the cost of registration.
So, the next time you think of buying a new car, do give a though about spending your hard earned money on a pre-owned car as it is far more beneficial than you would have thought. However, also ensure that you do a proper research and make sure that the model you choose has good reviews and is reliable.