Buying a car is now considered a necessity in most places rather than a simple want or a luxury – especially if you live in an area where public transportation is costly in the long run and not that accessible. Chances are better than not that you’re going to need to have a car in your household. But, let’s face it: brand new cars aren’t always that cheap. Even when dealers now offer very low down payment requirements, would you really want to hurt your monthly budget with monthly payments that aren’t pocket-friendly? Plus, why waste your hard-earned money on the interest?
Thankfully today, there’s now another better alternative for you to own a car. This is through buying used cars. Gone are the days when buying used cars was clouded with so much negative thoughts and insights. For as long as you’re purchasing one from a reputable source, such as Kia dealerships, and you’ve really gone through a rigorous research process, the advantages of buying used cars are many.
Some of these include:
1. It Saves You Money
On the average, most used cars are cheaper than brand new ones. Of course, this comparison applies only to cars that are of the same make or kind. If you already have in mind a specific car model that you’d like to purchase, you’ll find that it’s going to be so much cheaper to buy that particular option in its used version than for you to push through with a brand new one. This applies to both if you’re going to pay for the car in full cash payment or through monthly installments.
Moreover, the inherent expenses that come along with car ownership are going to be cheaper, too. Because used cars are valued way lesser than brand new cars are, the registration and insurance expenses pertaining to that car will be lower as well.
2. It Enables You to Choose from a Wider Range of Models
By buying used, you’ll be able to get a newer, better-looking car at a fraction of the cost of buying new ones. In addition, by buying used, you will have the option of choosing from the wide range of models and brands available in the market today. Hence, this opens you up to the opportunity of possibly owning a better, bigger, or more expensive car than that which you initially first thought you could afford.
For example, your family right now needs an SUV. However, if you were to buy a brand new one, it’s out of the budget. What your budget can afford for a brand-new car is a crossover, or a sedan. Go ahead and look around for used models of the SUV that you were first eyeing, as the best option for your family. Because you’re buying used, perhaps now this is within reach.
With buying a used car, you’re no longer that constrained by the limitations of what your budget can afford.
3. It Gives You the Opportunity to Customize Your Car
Because of the savings that you can now enjoy through buying used cars, you also have more leeway, financially, to customize the car that you’re buying. This gives you more options in terms of the kind of car that suits your needs.
Customizing your vehicle will make it look like it’s brand-new. You can start by outfitting your vehicle with new, custom-made seat covers, car mats, and accessories. Customizing the small yet important details first is more affordable and will make every ride more comfortable and convenient for you. In the meantime, save up for major customizations.
When you can afford to customize your car, you’re getting the best out of it. This means highlighting the best features that the car can offer, and making them work to your advantage. Remember that customization goes beyond simply creating physical or vanity alterations on the vehicle.
4. It Saves You the Expense of Paying for Depreciation
When you’re buying a used car, a good chunk of its value has already depreciated since most used cars are already around two to three years old. Hence, this saves you a lot of money on depreciation.
In comparison, when you buy a brand-new car, you automatically lose around twenty percent of its value on depreciation the moment you take home the new car. Remember that once you’ve driven the car and it leaves the dealership, this will already be classified as “secondhand” or “used”. Hence, right there and then, you’ve just wasted paying for 20% of the car’s selling price on depreciation.
Should you decide to sell your brand-new car sometime in the future, your losses will still be higher and greater than if you’ve bought and eventually sold a used car instead.
Second to your home, your car is also going to be one of the most expensive assets that you’ll ever own in your lifetime. Hence, you’ve got to make the right choice. There’s no room now for you to take second-guesses with your options. Buying a car, however, doesn’t necessarily have to feel like such a financial burden. When it’s something that you’ve long been wanting to invest in, you’ve got great alternatives through the option of buying used. The benefits enumerated should be more than enough to convince you that buying used is going to be a very good decision.