Why your next car should definitely be second-hand
More people are realizing the huge benefits that come with buying used cars. From the incredible savings you can make initially, to the long-term investment it represents, this is definitely worth your consideration if you’re due to buy your next vehicle in the coming months. Still not convinced? Read on for more reasons…
The depreciation value
This is often most important reason for people steering away from new cars. In the first year alone, a new car can lose as much as 19% of its value – not even that, but it can lose a huge amount of money as soon as it leaves the dealership, purely because it’s now had one previous owner. The percentage by which a car depreciates in value decreases with every year of its life, so by the time the car is around 3 or 4 years old, it will still be in excellent driving condition, be a lot more affordable, but if you then wish to sell in on in a couple of years’ time, it will have held most of its value, although this varies with each model.
Easier to haggle
Aside from the initial price tag, it’s also far easier to negotiate money off the cost of a vehicle that has a couple of years’ worth of mileage. With new cars, salesmen know perfectly well that they’ll sell easily to those who want them for the latest gadgets and technology, so they’re not in a hurry to get them off the parking lot (unless there’s a promotional offer available). Therefore, they’ll be less inclined to hear you out, opting to wait for the buyer who will pay full price.
Most people think that because newer cars have better technology, they’ll be more fuel efficient and better for the environment. While it’s true that they’ll be more advanced in this area, it’s far worse on Mother Nature to buy a new car. Between 12% and 28% of the carbon dioxide emissions generated across a car’s lifecycle occur during the manufacturing process, and its subsequent shipment to the dealer. If you buy an older car that has strong reviews on fuel economy instead, you’ll be much greener, as that car will have already passed through those phases. A new order will mean more pollution.
Additional costs reduced
Finally, an older car is far more cost-effective once you factor in all the additional expense it will cost you when you drive it home. For one, there’s an increased insurance premium on newer vehicles, purely because the car is worth more in the case of an accident. Naturally, used cars are worth less, so they cost less to have on the road. Similarly, older cars tend to have parts that are easier to find and therefore are more affordable when it comes to garage repairs.
Have we convinced you to opt for second-hand with your next car? Let us know your thoughts in the comment section below…
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