Buying a car is a big decision. A lot must be considered: what you can afford, what your driving needs are, gas mileage, and safety ratings; the list goes on. As well, what about used versus new cars? There are a lot of benefits to choosing to shop used. Here are six reasons why a used car is the best option for new and seasoned car shoppers alike:
The lifespan of vehicles has increased over the years. In 2014 the average lifespan of a vehicle was measured to be over 14 years, and of those cars, almost half were used. This doesn’t just apply to cars that sit in a driveway for show; the mileage cars go before breaking down has increased as well—odometer readings of cars headed for the scrapyard average about 215,000 kilometres. Cars nowadays are built to last, so you don’t have to worry about an old jalopy falling apart on you a year after purchasing it.
Say you buy a new car; you love it and take it for a spin around town. Maybe tomorrow you decide that this car doesn’t really suit your needs, so you take it back to the dealership only to find out it isn’t worth nearly what you paid for it yesterday. New cars depreciate the second that they leave the dealership. In as little as three years, a new car depreciates an average of 54%. Due to the depreciation during the first few years of ownership, buying a used car saves you from losing money on your new (to you at least) vehicle.
Lowered Insurance Rates
While insurance is not required in New Zealand, anytime you are driving, there is a risk of an accident. Having insurance to cover any damage costs is a good idea as paying out of pocket can become costly. New cars are valued higher than used vehicles, so covering damages for a new vehicle means insurance companies have to shell out more money. Those costs are passed onto you as the customer, so buying used is a great way to cut your insurance bill.
In addition to detailed history reports, certified pre-owned programs provide peace of mind in purchasing mechanically sound used cars. These programs certify that your used vehicle is in like-new condition by checking everything from interior to brake pads. In addition to giving the car a thorough inspection, these programs offer a limited year warranty to cover any faults and a grace period to exchange the car.
The truth is, you will run into issues with any car. What matters is how serious those issues are. Every five years or so, car manufacturers redesign the existing models by upgrading components. Unfortunately, what this means for buyers is new models are subject to new, unknown problems. Buying an older model of a vehicle means you can easily research and track issues reported by motorists, so you know exactly what to expect.
One of the biggest risks of buying a used car is not knowing the history of the car. Fortunately for consumers, detailed vehicle history reports are easy to obtain and give you the confidence needed to make the right decision. Purchasing a detailed history report provides you with information like:
- If the car is repossessed or stolen
- Odometer reading accuracy
- Number of previous owners
- Damage to the vehicle
Exposing any hidden problems helps you make the best decision on your car purchase.
Much research goes into buying a car; it is not a decision to be made lightly. Buying used saves you a considerable amount of money and anxiety. A certified used car offers all the amenities of buying new, except for maybe that new-car smell. Fortunately, there’s an air freshener for that.