Why Buy A Used Car?

With new cars exuding that new-car smell and prestige galore, why would anyone buy a used car? After all, when a person imagines winning the lottery, one of the first purchases they imagine making is that shiny new car. While car dealership spend a lot of effort and money convincing you to buy new, though, savvy car buyers know that buying used cars is a smart move because:

1) It’s what millionaires do. While you might see celebrities buying shiny new cars regularly, most millionaires actually drive around in used cars. Research has proven it – when you look at most people who are worth $1 million or more in assets, most simply do not put a big chunk of change into their vehicles and instead put their money into investments and into building a lifestyle they want. Quite simply, new cars can bleed your wallet when your money could be used to make your life better.

2) Used cars make sense when you consider depreciation. The minute you drive a new car off the lot, it loses value – in some cases, it becomes thousands of dollars less valuable. And that’s only in the first day! Used cars just don’t lose value as quickly.

3) Used vehicles don’t put you in a strange situation in terms of your car insurance. Not only will you generally pay much more in premiums for a new car, but if you are in an accident shortly after buying your new car, you could actually see your insurance rates soar even higher, meaning that you pay more in insurance than is worth it. New cars are simply a bigger risk and insurance companies remind you of that each time you have to pay a premium.

4) Used cars are a lot less hassle. Do you know what happens when city workers put down a fresh coat of asphalt on a sidewalk on a summer day? In most municipalities, they need to pay workers to sit by the slab while the asphalt dries, since the wet cement is a magnet to youngsters who want to draw in the wet cement. Well, new cars are the same way, attracting youngsters who want to joyride or just scrape your paint job. Do you really want to worry about your car every time you park it? It makes much more sense to buy a functional new car that you can use without worrying about every scratch. With a used vehicle, you can enjoy driving and you can reduce your stress as well. Plus, used cars are less likely to be affected by recalls than new cars.

5) Lots of choice and great prices. The used-car market saw over 42.5 million sales in 2006, reports CNW Marketing Research. This means a range of choices but also a buyer’s market. Since cars last longer today and there are so many cars on the market, prices are great. And, of course, used cars cost a fraction of the cost of new cars in comparable models.