For car shoppers who care about value above all else, buying used is a great way to save money. Not only will you save on the initial sticker price of a car, but there are other savings like lower fees and less depreciation. Plus, cars built in recent years are more durable than in decades past, so buying a used car is a great way to truly capitalize on an investment. In short, getting a used car is a great option.
Many new cars lose about 30% of their initial value in the first year of driving, but not all of that is due to wear and tear. There’s less demand for cars that are a year or more old, so you can save big if you start by looking for cars that two or three years old. This way, you get some up-to-date features without breaking the bank.
Insurance and Fees
In many places, new cars are insured at different rates than used cars, but used cars often have less value than their new counterparts. Depending on the sticker price of your used car, you’re likely to save when it comes to insurance costs and registration fees. It’s simple math: if there is less value to insure, you’ll spend less monthly.
Peace of Mind
Some people may warn against buying used because they view it as a risk. After all, you can’t know about how it was driven before you bought it, right? Not necessarily. Companies like Carfax and AutoCheck now make it easy to find vehicle history reports using VINs. You can verify mileage, find out about accidents or major repairs, and see how many previous owners a car had. You can also get supplemental insurance or buy a certified pre-owned model if you’d like a little extra assurance.
At Casey Auto, we have an extensive inventory of incredible used cars just waiting for you to take out for a test drive.