Benefits Of Used Car Dealerships
You have probably seen a shiny new car, and you are wondering whether to go for it or a used car. Below are some of the main benefits of used car dealerships. First a used car can help you save a lot of money. The average cost of used vehicles is about 50% of new vehicles which means when you buy a used car, you can save half the money you would have used to buy a new one. That implies that if you borrow money to buy the used car, you will service it within a short time.
When you buy a used vehicle, bulk depreciation has already taken place. The rate of depreciation for new cars is so much that the day it is driven out of the sales lot, its price goes down a great deal.
The value of new vehicles is estimated to come down by 11% as soon as they are driven away from the lot. The vehicle continues to depreciate at this rate as time goes by. That means as at the time when you are buying the used vehicle, a lot of depreciation has already occurred. You can even be surprised that some used vehicle might even gain some value.
There are no exaggerated fees when you buy are used car, and this can further save you some money. There are numerous hidden costs in new cars such as shipping costs, dealer preparation fees, and destination charges. It is not unusual to find a new car dealer charging their customers advertising fees which can be as high as 1000 US dollars. Buying a used car does not attract any hidden charges which help the buyers save a reasonable amount of money.
Used car dealerships also have lower customization costs. Used car dealerships has costly add-ons for new vehicles. This enables you to save some money that you can utilize for other things.
Used cars are also certified and well inspected. It is the practice of most used car dealers to sufficiently refurbish the vehicle after inspection so that the customer can get value for their money.
The new car dealerships merely hold to the new car assurance while used car dealerships go extra miles to offer special financing, extended warranty, and other benefits. While some used car dealerships have cars with the original warranty,others will offer you the chance to get a new warranty.
The other advantage of used car dealerships is the reduced insurance premiums unlike new cars which attract more premiums. Annual registration fees for used cars are also lower.