It’s simple: if you want a car, but have less than required budget, then it would be sensible to purchase a used one instead of a brand new car. Most parents consider purchasing used cars for their wards. Other than that, they also believe that with the present global economic condition, the demand for second-hand cars has increased.
Don’t take their word for it, though. Used car suppliers in Indiana say the same thing, and it could be actually true. In any case, here are some advantages of buying used vs brand-new:
- Less expensive: Obviously, used cars cost much less than new ones. However, if you purchase one that is in reasonable good condition, you can become the proud owner of a nearly-new car without having to pay a lot.
- Less depreciation: All new cars lose their original value or the depreciation is maximal with the first two to three years of purchasing the car. However, with a used car, the rate of depreciation is much slower, making them a better bargain.
- Insurance: For any used car, the insurance details, paperwork, and support are provided by the retailer themselves. However, for a new car, you will have to approach a financial institute or a bank to get the car insured.
- Mileage: Many used cars have a lot of mileage left in them. Discuss with the retailer regarding the mileage and usage of the second-hand cars. After that, select one that gives you a better mileage, or, at the very least, research the brand and model of car with the best bang for the buck in terms of mileage.
- Repair work: Sometimes the second-hand cars require minor repair works to be done. On completion of the repairs, the car becomes as good as new, and that at a fraction of the cost of a new car!
For a first-time car owner, it could be best, in fact, to get a second-hand car. This way, you would not have to spend so much with your first one, and you would be acquainted with the general maintenance of a vehicle.