Whether you are buying used cars or would like to buy the latest edition as advertised on the internet, remember that each one has its own pros and cons. To help you decide, here are some of the reasons why you must buy a used car now:
Unlike other possessions that you have, cars depreciate in value through the years. As such, buying a new car for investment is not a good idea. Cars last a long time, however, they lose their value during their lifespan.
Some models can handle depreciation better than others. But most shoppers can expect that their car can lose 50% of its value within three years. As what some people say, “there is no such thing as free lunch” and this is true for cars. Even with free maintenance, warranties, and low financing of cars, the law of depreciation will remain true for cars. Thus, this is a great reason why you must shop used cars now.
Buy More with your Money
Due to depreciation, your money can take you to way better options than when you bring it to buy new cars. Your budget may only afford you to buy an entry-level new car. But this can make you buy fancier when you bring it to used car shops. Thus, check the used cars in raleigh now!
Each year, there are around 400 new models offered by shops for sale. But if you are looking for variations, you can consider checking the used-car shops. These shops have different models from any year you want. Sometimes, the model you want might not be available anymore in the new car market, but the used car shops got your back covered.
Lower Cost of Insurance
The value of the car is the main item the insurance company considers when they determine the rate. The more valuable the car is, the more money they have to spend in case of accidents. As such, it is understandable that a used BMW will cost less insurance versus a new one due to depreciation.
Certified Pre-Owned Program
For many buyers, having a warranty to protect them for the car’s shortcomings is worth it. Today, many of the sellers have a Certified Pre-Owned program which makes it less worrisome for buyers. Thus, you can check the used cars in raleigh now and enjoy your new ride.
Registration Fees are Cheaper
Depending on where you live, older cars can be cheaper than new ones when you register it. However, some states charge the same fees no matter what type of car you wish to register. However, there are states where the fees vary depending on the car’s weight, age, and power.
For example, in Montana, the registration fees are based on the age of the car. Apart from the registration, there are states that charge annual taxes. Oftentimes, these are based on the age of the car. For example, in Massachusetts, they levy the excised tax on all cars. However, the tax is reduced whenever the car is two years old until it bottoms out on its fifth year.