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Here at Vann York Toyota we are proud to service customers from High Point, Greensboro, Winston Salem, and other surrounding areas with your questions and concerns about vehicle purchases including the commonly asked question of, “Why should I buy a used car?”
There are many different benefits to buying a used car, truck, or SUV, so don’t be overwhelmed with these common questions. Just take some advice from us about why buying used is a great way to go in the market.
Money is a huge factor in deciding what kind of car to purchase. Buying used alleviates some of the pressure of how much you are spending. Since the car has been used, its value has decreased for resale. This means that you are getting it at a lower price. Lower price means lower payments each month for your 5-year, 6-year, or however-many-year loan. Because you are buying used your insurance rates will also be lower, typically. Additionally, you will not have to pay as much of a down payment. With new cars you are looking at 10 to 20 percent down payments, but used cars may not even ask for one, depending on your credit score.
Depreciation values of new cars decrease quickly. Within the first three years, they have typically lost 47 percent of their value, followed by another 24 percent over the next three years. Since you are buying used, the value will not decrease that quickly. While it will still decrease over time, it will remain at lower percentage intervals of depreciation.
Nowadays, vehicles are more reliable than they use to be. It isn’t out of the realm of possibility for a vehicle to reach 200,000 miles or more. Vehicles that are 5 to 10 years old are still prime to last the owner a long time. That is a great part about buying a used vehicle; you can get one for a great price just like in past years, but it can last longer.
If you are still wonder why you should buy a used car, then stop by our dealership today to see what used vehicles we have on the lot and see why buying used vehicles has so much to offer shoppers.