Wondering what the advantages of buying a used car are and if it’s the right choice for you? You’re not alone. Many people face this decision, and with good reason. While new cars are tempting, the advantages of buying a used car often outweigh the excitement of a fresh-off-the-lot model. From lower prices to fewer worries about depreciation, buying used can be a smart, fulfilling decision.
But it’s not just about saving money. There are several emotional and practical advantages of buying a used car that are often overlooked.
10 Advantages Of Buying A Used Car
Let’s dive into the top 10 advantages of buying a used car and why choosing a pre-owned vehicle might be the best move for your next ride.
1. Cost-friendly
You already know this. Used cars are significantly more affordable than buying a new vehicle. Lower prices for pre-owned vehicles provide a better chance of being able to pay for your purchase in cash or make a larger down payment. You might also get a higher-spec model than you could afford new.
2. Less depreciation
Buying a used car helps you avoid the initial depreciation hit that a new vehicle takes when you drive it off the lot. During the first year of ownership, a new car can lose up to 30% of its initial value. A used car will still depreciate over time, but significantly less quickly than during the first couple of years of owning a new car.
3. Quicker pay-off
Used car loans are usually shorter than those for new cars, enabling borrowers to pay off their vehicles sooner. This quicker pay-off period is another important advantage of buying a used car.
4. Used cars include extended warranty
One of the most common questions about the advantages of buying a used car is regarding the warranty. Many used cars are still under factory warranty, which is easily transferable to new owners. Even if the coverage has expired, used car buyers can take advantage of extended warranties. While this may not be an option in every case, most dealerships offer a variety of warranty options to cover used vehicles, especially their Certified Pre-Owned cars.
5. Cheaper to insure
The cost of your car insurance is largely determined by your car’s value. The more valuable your car is, the higher the insurance cost. Therefore, used cars typically have lower insurance premiums than new cars, making it one of the significant advantages of buying a used car.
6. More varieties to choose
Every year, new car models are released, and although there are many to choose from, there is significantly less variety of new cars available compared to used cars. Buying new means that you are limited to models that have been released over the past couple of years.
However, buying a used car allows you to browse a larger spectrum of vehicle models, including older favorites. Some old car models are evergreen, aren’t they? They stand the test of time, carrying our past golden memories.
7. Test owning
You must have heard of test driving, but have you ever heard of test owning? Why is test owning taking over test drives? It may not be as familiar as a test drive, but the term ‘test own’ is trending in the auto industry. Taking a quick test drive around the block while the salesperson is yammering in your ear doesn’t provide much information.
Test owning, by contrast, means you get to buy a car with the guarantee that you can return it for a full refund after a few days if you change your mind. This flexibility is a unique advantage of buying a used car.
8. More reviews
Buying a used car means you’ll be able to find lots of hands-on information about the vehicle on social media, including YouTube reviews, posts on car forums, and Facebook groups or car pages.
For models that have been around for a few years, this information can be invaluable, shedding light on common issues, concerns, and how to easily troubleshoot simple problems. Access to extensive reviews is another compelling advantage of buying a used car.
9. Research a used car’s long-term performance
One of the benefits of deciding to buy a used car is the ability to look back on the vehicle’s history. In addition to general information like consumer reviews, you can also see the specific history of an individual used vehicle.
A car’s VIN (Vehicle Identification Number) provides a detailed vehicle history report, including mileage and whether it has ever been declared a total loss by an insurance company.
Buying a pre-owned car lets you see into a car’s past and gives you an idea of how it will perform in the future, emphasizing the advantages of buying a used car.
10. Used cars have aftermarket commodities
New cars are the ones that often endure recalls and other setbacks. When it comes to used cars, most of these issues have already been resolved.
The model you’re considering has already dealt with and overcome past problems. Plus, if you have an issue with a used car, the chances are high that other owners have figured out and solved those same issues. So, it’s easier to repair used cars, making it one of the key advantages of buying a used car.
Conclusion
Don’t judge a book by its cover. There’s a saying, “Old is gold.” Based on the 10 advantages of buying a used car stated above, you can see that purchasing a pre-owned car has plenty of benefits. An old car may bring new and positive changes into your life. Kindly share your views on this “10 Advantages of Buying a Used Car” article in the comment box.
At Carco.com.my, we have over 300 used cars for sale for you to choose from. All cars have undergone a rigorous 160-point inspection. We have also listed all damages found, major or minor, in our detailed inspection report below to ensure complete peace of mind with your purchase. We also offer car loans with zero down payment and car insurance. Buy your dream car today!
