Buying new vehicles has now become a thing of the past! In recent years, especially as the world is slowly coming out of the pandemic, purchasing a high-quality and certified pre-owned vehicle is the alternative people are recently leaning towards. And, 2022 is the year to purchase according to Forbes – but why? Why the sudden urge to purchase pre-owned instead of new?
Well, it could be that insurance costs for a pre-owned vehicle are lower or that you have access to the history of pre-owned vehicles and their performance over the years.
We’re definitely on the right track, but let’s dive into the top 10 benefits of purchasing a quality pre-owned vehicle.
10. Great for the environment
It’s quite obvious, but purchasing used vehicles instead of new means that you’re being responsibly sustainable. Although hybrid vehicles are a good alternative, the batteries are not ideal for the environment due to the acid waste and the extra resources used during production to make a new vehicle. Purchasing a used vehicle is not necessarily “green,” but because production emissions are already there, it’s less demanding on the environment, according to ZME Science.
9. Teen drivers? Used vehicles are your best bet
We’ll give you time to shudder as you think about your 16-year old driving you around. But, even if your child is responsible on the road, we’re sure that you’re betting on them driving your used car instead of the shiny new Range Rover you just bought. They’re definitely more prone to higher risks of being involved in accidents, mainly due to their lack of experience. But, allowing them to drive used vehicles, they can practice and get the jitters out, hopefully in time for them to get their license.
8. Depreciation: used vs. new
First off, if you know what depreciation means, then skip the following sentence. If you don’t, then depreciation means the deduction of an asset’s cost over its useful lifespan, significant when it comes to vehicles. In the first year, a new vehicle can depreciate up to 45%. But because used vehicles depreciate much slower than new ones, it’s a better investment, and according to Bankrate, it’s also better for the stable loan-to-value ratio.
7. Vehicle reports and history
Thanks to informative sites like Kelley Blue Book and CarFax, you can check the make and model of the used vehicle you have your eye on. This highly pertains to you if you’re a family person because you’ll be driving around young children and relatives – the whole VIP crew! You’re going to want to know the complete history reports concerning accidents and ownerships – all of which you’re able to check in minutes at the sites listed.
6. Dealership fees go down
When you purchase a vehicle, new or used, there are always fees to consider, like title, documentation, registration, and a few others. But, the fees are certainly lower than a new vehicle when you purchase a used one. Why? Quite simply, the cost of the used vehicle is lower than a new one. Of course, this depends on where you live, but overall, the fees for a used vehicle are less costly than new ones.
5. Extended warranties
The good news about purchasing a quality used vehicle is the warranty. Most used cars, or at least some, still have the original manufacturer or factory’s warranty, so you’ll still have time to use them for future repairs. As noted in number 2 on this list, certified used vehicles go through a thorough inspection and come with an extended warranty by the time you see them at the dealership.
4. Flexible for different stages of life
We like purchasing pre-owned vehicles because they’re perfect for families, especially young families. Because as you expand your family, the car that worked for you when you had two children doesn’t quite work when you’re expecting baby number three. Also, when your high school grad is heading off to college, you’re going to want a quality used vehicle they can depend on. Not only that but when the last child has left the nest, the minivan will no longer be needed.
3. Financing options
When you purchase a used vehicle, the financing options are better. The options can be endless, from low interest rates to incentives, but it does depend on the vehicle you’re interested in purchasing. But here at Investment Auto Group, we can talk you through your options, so you can make a better decision depending on your current financial situation.
2. Certified: “Trust” is a five-letter word
When browsing for a used vehicle, remember that it’s important you’re not overlooking anything. That’s why it’s great knowing the used vehicle you’re interested in is certified. It’s been inspected, the warranty period is extended (as noted in number 5), and you can trust that the dealerships have your best interests in mind. The essential repairs have been done, giving you the ease of mind.
1. The FINAL countdown: used vehicles save you money!
Now the main reason why purchasing quality pre-owned vehicles is saving money. Cha-ching! Look – we’re all trying to save money, especially with the rising cost-of-living. We can understand why you want to save money. Sure, the smell of a new vehicle is enticing, but you can just buy a freshener at the grocery store. A quality certified used vehicle is an excellent option – from insurance fees to repairs!
When you’re set on what you’ve decided, come into Investment Auto Group, and we can help you get started!