There used to be a lot of stigma about buying used cars but nowadays with a little bit of patience, it can be an affordable way to get yourself behind a new set of wheels. Not only is the cost of a used vehicle cheaper overall, but they also retain their value better than new cars.
Since new cars depreciate in value so fast, buying a used car can save you a lot of money in the long run. If you are buying a car with plans of reselling it in the future, a used car may be the best choice. In addition to avoiding most of the depreciation on a vehicle, buying used as many other advantages including:
Best car for your budget: If you are working with a limited budget, buying a used car can be a good way to get the most out of your money.
Nowadays, cars are built more reliably than ever before so buying a used car is a safe, budget-friendly option.
Resale value: Since someone else owned the vehicle for the first few years, they took most of the depreciation from the initial price of the car.
When you sell the car again in a few years, it will retain more of its value than selling a car you bought new.
Lower car insurance rates: Used vehicles are worth less money overall so they will cost you less money to insure with comprehensive and collision coverage.
If you want to save even more on your insurance rates, you can drop the collision and comprehensive coverage entirely and pay for repairs for your car.