Why is buying a used car more profitable than a new car?

Tallahassee is the capital of the U.S. state of Florida. It is the 8th largest city in the state and 126th largest city in the country, with a population of 1.96 lacs as of 2020. There are 11,984 used car dealerships in Florida, making it the state with the second-most number of car dealerships after Texas, which has approximately 14,000 dealerships. These figures mean that you can easily find a car dealer in Tallahassee or a nearby county.

These days, the buying trend has started to shift away from driving a brand-new car home toward purchasing a pre-owned vehicle. Why not? There is certainly no shame in buying a used car; it is a lucrative investment with which you can save a lot of your hard-earned money. You only need to find a vehicle still in good condition, which doesn’t need much work.

Suppose you are looking for a used Hyundai for sale in Tallahassee; first, you need to find a reputable dealership that sells Certified Pre-Owned (CPO) Hyundai cars. Getting a CPO vehicle will mean that the car is inspected and maintained meticulously by experts and is in the best working condition. Further, here are the advantages of buying a used car over a new car. Continue reading!

Lower extra charges

You must know that when you buy a brand-new car, you must give the car’s selling price and some additional charges. Fortunately, these additional costs do not come with used vehicles. You might not know, but the most significant part of these extra charges you give for new cars goes to the dealer’s and salesperson’s pockets. Dealerships usually add their exorbitant fees into these charges, which end up in their bonuses for selling you the car. With a used car, you don’t have to worry about extra costs; you pay only the selling price and a small fee for purchasing formalities like registration costs, documentation charges, etc.

Decreased depreciation rate

Do you know that a new car depreciates faster than a used car? Yes, you read it right! As soon as you sign the ownership agreement on a brand-new car, it depreciates several thousand dollars. This is because the vehicle is no longer “brand-new”; it has had one owner. The depreciation continues rapidly as the car covers miles and the usual wear and tear. So why pay for a vehicle worth several thousand dollars LESS than what you paid the moment you take it from the showroom? Better you take a used car, which is just as good as a brand new car, for thousands of dollars less.

Less insurance and taxes

There is no hidden fact that you have to pay a hefty sum when buying a new vehicle. Most new cars can’t be driven off the inventory unless they have full insurance. However, when purchasing a used car, you have the complete freedom to choose whether you want full coverage or simply liability insurance. Hence, you save a lot of money by purchasing a used car instead of a new one. Similarly, the taxes on your new vehicle will cost you a small fortune, while the taxes on your used vehicle will be minimal. This is another way a used car is better than a new one.

Easier and cheaper to upgrade

Another essential advantage of buying a used Hyundai for sale in Tallahassee is that it can be easily upgraded without breaking the bank. Moreover, replacement parts for a car that has been on the road for a while are widely available compared to the latest car model, which has just come into the market. Due to the increased availability and lower price of the automotive parts of used cars, pre-owned vehicles are becoming more popular than ever.

Hopefully, now you are convinced that buying a used car is more profitable than buying a new one. So what are you waiting for? Start your search for a trustworthy auto dealership in Tallahassee.

Author:  Alison Lurie