Buying Used Cars
Buying used cars? For the vast majority of people, buying a brand new car simply isn’t an option. But if funds are low and that timely lotto wins still hasn’t occurred yet, the financially responsible choice when it comes to purchasing vehicles is to go used.
Of course, used cars aren’t terrible since you are buying it from the reputed used car buyers. They were brand new once, too. If they’ve been maintained well by their owners, they can be just as good as new, only cheaper. On the flip side, getting a used set of wheels has its downsides as well.
Pros
No initial value depreciation
A huge plus when assessing the issue of whether a pre-owned ride is a viable choice of purchase is the lack of initial value drop which normally occurs when buying brand new. A brand new vehicle’s value takes a dive the moment it leaves the lot.
Which means you will be able to afford cars you would define as “dream vehicles”. This is true even when buying a used car online. Someone else has paid the initial brand new price for you. This is happy news for people on lower incomes and happy news for people looking to get cash for cars.
Still may get a Warranty
Cars with a warranty which last for a certain amount of k’s can get sold second hand at a later date without having done too much of that distance, which means the warranty is still valid, which makes getting repairs easy.
Cheaper insurance
Since a car is less expensive to replace, insurance would be a lot less as well. Happy news for people who have ten children to feed. Not only have they bought a cheap vehicle, they don’t have silly insurance premiums to pay. It really is a great idea to buy second hand automobiles.
Cons
Bad condition
Something to look out for is unscrupulous used auto sellers who don’t tell the entire truth about the vehicle they are trying to sell. It isn’t completely out of question to hear about someone buying what seems to be a pretty sweet ride, only to have it fall to pieces one week after purchase.
But generally, if you get a used vehicle, it will be requiring repairs sooner after the time of purchase than if you had bought brand new. Having a bit of an emergency fund tucked away for new tyres or seat belts is a very wise move.
No warranty
Aside from the odd exception, most second hand automobiles have run out their warranties, so if you want one you’ll have to pay a whole bunch extra. This can cost thousands for an extended warranty.
In conclusion, the pros of buying a used vehicle seem to out-way the cons. But it all really boils down to personal income level. If you’re rich, go ahead and buy a brand new car, and if not, you’re probably best buying second hand.
Want an upgrade and wondering where to sell my old car in Perth before buying another one? Get in touch with the CashIt crew and get it sorted.
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