Whether you wish to save money or are just in need of a reliable new vehicle without all the overpriced bells and whistles, buying a used car is an easy choice to make. Over the last two decades, vehicles became safer and more durable, and this is shown in the quality of vehicles in the used car market. No matter what year your vehicle of choice was manufactured, the decision to buy used over new will save you money on the ticket price every single time. However, this is not the only reason to choose a used car over a new one. Unlike flashy tactics of past decades, quality and functionality are valued over a low price. With this in mind, reputable used car salesmen ensure every customer’s peace of mind with rigorous mechanical and safety inspections on all vehicles. With this guarantee of quality, protection plans and warranties are also offered, so you should never feel as if the choice of a used car will mean lower reliability or quality of service. Take a moment to consider these facts before you decide to buy a new or used car.
New Cars Depreciate Immediately
The very moment you drive your new car off the lot, 20% of the money you just spent is immediately lost off the top of your car’s value. In the course of the first year, your shiny new car is slated to lose another 10% on top of that. Take a moment to contemplate this. In just one year of owning your new vehicle, 30% of its value has depreciated away before you even drive your first ten thousand miles. When purchasing a one, two, or three-year-old car, you avoid this altogether. Used cars are unlikely to depreciate at all, as depreciation flattens out after a car’s second year. In fact, the most cost-effective way to own a car is to choose a two-year-old car and drive it until it simply will not drive anymore. Take a moment to look at Canberra used cars for sale, and your wallet will thank you.
Insurance Costs and Fees Are Lowered
Since a used car typically has less value than a new car, the cost of insurance is lowered immediately. In fact, some elements of car insurance can be dropped altogether, saving you immediate and long-term money before you see the end of your first year of car ownership. For the cost-conscious shopper, this alone is enough of a reason to choose used over new.
The cost of registration is often based on the car’s transaction price, and a lower price means a lower registration fee. Although that shiny new car can appear within your price range from afar, one quick look at the registration and insurance fees can be enough to send you running back to the used car lot. You deserve a car that is high quality, durable, and functional, and is also offered at a much lower price. Take the time to go online and research Canberra used car lots available to you, and you are sure to find exactly what you need.