Buying a car is a big purchase, and there are a lot of choices to make when you start looking for your first car. The temptation to go out and buy a brand new car can be strong, but there are some excellent reasons to consider used cars when looking for that first car purchase that you may not have considered.
Used Doesn't Mean Old
When you are considering used cars, it is essential to remember that just because a car is pre-owned does not mean it is old and run down. Often used cars that you see on a dealers lot are lease cars that were driven for a year or two and well maintained in order to protect the warranty on the car.
Lease cars also typically come with mileage caps, so the used cars that are on the lot as a result of a lease trade-in may be very low mileage as well. This often means these are cars that are only a few years old and can be an excellent car for a first car, and in some cases, they will still be eligible for a factory warranty.
Depreciation and Value
Used cars that are only a couple years old often hold their value and since most of the depreciation comes in the first year or two of the car's life, buying a car that is even just a year old can help you get a car that is worth nearly what you are paying for it.
Financing options are also still typically available with a decent interest rate and term on used cars that are only a year or two old. The dealer you are buying the car through can help you find a good plan and may even be able to offer financing through manufacturer's financing plans, and with banks that offer better interest rates and terms than you will get from companies selling cars that are five or ten years old.
Used cars that are sold on the dealer's lot alongside new cars are typically inspected by the dealer and factory certified to ensure they are in the best condition possible. These cars are also often eligible for the remainder of the factory service plan that may have come with the car, and most dealers that offer used cars on the lot, also provide service for these cars.
If you buy a used car from the dealer and have them maintain it for you, they will be able to validate the service so that the factory warranty remains intact until the car hits the cap on the warranty, protecting you from high costs for work that may need to be done down the road.Share