Why Buying a Used Car Just Makes Sense

Although new cars come with full factory warranties, and the latest safety equipment and technology, there are several reasons that smart shoppers prefer buying used cars to new. For starters, they've already taken their largest dip in depreciation, so you'll naturally stand to recoup more of your investment when it's time to sell or trade-in your vehicle. In addition, buying a used car offers these advantages:
  1. More car for the money. Used cars naturally cost less than their new counterparts, which means that you just might be able to get a better or higher-end vehicle than you could if you bought one that's just off the assembly line.
  2. Lower insurance rates. If you want to buy a used car, you'll not only save on the overall price of the vehicle, but you'll typically save on your insurance rates – making them even easier on your wallet.
  3. Protection is still available. If the factory warranty is still intact, it may be transferred to a new owner (you). However, if you want to buy a used car that's part of a manufacturer's certified pre-owned program, you can expect your used car to be protected against a variety of problems for 12 months or more.
  4. Issues may have already been corrected. Sometimes, new vehicles have unseen issues that are repaired only after they're discovered by the manufacturer through a national recall. Depending on the age of the vehicle you're considering, many of those issues will have already been fixed.
  5. You can make an informed decision. Unlike new vehicles, used cars have been driven (probably even by those you know), reviewed by experts and written about online and in magazines. When you buy a used car, there are countless places you can go for information on performance and reliability. However, if you choose to buy a new vehicle, you may have to just take a leap of faith and hope for the best.