It really is no secret that used cars sell for less than new cars. However, many people make the mistake of believing that this lower sticker price is the only benefit that used cars have to offer. This simply is not the case. There are many benefits that come along with buying a used car which are commonly overlooked. Below you will learn more about a couple of these often under appreciated benefits.
Used Cars Offer A Wider Selection Of Available Features
As technology continues to advance, the features that car manufacturers choose to offer change as well. For instance, while cassette players were once common place, finding a brand new vehicle that offers this feature would likely prove impossible.
While you may not be in a hurry to revisit the days of audio cassettes, there are many features that people often desire which simply are not available on newer cars. For example, many people prefer manually operated windows since they do not have to worry about the motor blowing and preventing the window from opening.
When choosing to buy a used car, you will have the ability to choose from a much wider range of features since you will not only have access to late model vehicles, but to older vehicles as well.
A Used Car Retains Its Value Better
Imagine for a moment that you just paid $30,000 for a brand new vehicle. Now, imagine that you simply drove this vehicle down the road to your house. When arriving at your home, you are informed that your new vehicle is now only worth $24,000. How would you feel?
If you are like many people, you would probably feel a sense of outrage when discovering that your brand new vehicle depreciated by several thousand dollars simply by driving it home for the first time. However, this is precisely what happens to people each and every day due to the fact that new cars can depreciate as much as 20% the moment you drive them off the lot.
While a used car will still continue to depreciate, the rate at which it loses value will slow considerably. This is especially true when choosing to purchase a vehicle that is more than five years old.
If and when you ever decide to sell this vehicle, you will find that slower rate of depreciation allows you to recoup a much larger percentage of your initial investment than when selling a car that was purchased brand new.