Buying a car is an important decision that requires a lot of thought. A new vehicle might be over your budget. So what’s the next option? Buying a used car!
Opting for a pre-owned car has its pros and cons, from financing to operating. Seeing both sides can help you determine if this is the best choice for you.
And this blog will surely help you with this decision!
Pros of Buying Used Cars
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It is Cheaper than Buying a New Car:
It’s the first advantage that presents itself – it allows you to stay within a lower a budget range. But getting the best deal starts with exhaustive research.
Firstly, check the vehicle’s condition and mileage. Older cars may be cheaper but anything below the 3 year mark tends to hold a greater value.
A good reference for a used car’s mileage is valued from 15,000 km to 20,000 km.
Ensure that the car’s overall condition, internal health and driving experience are still in great condition. It could prove difficult finding the best bargain, but with enough patience, you’ll get there.
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Depreciation Impact is Lessened:
One of the bigger drawbacks of buying a new car is its significant depreciation with regular use. Buying a pre-owned vehicle will instantly take this out of the equation.
Buying a used car that has already undergone depreciation allows you to find a better price for a higher class model. Additionally, these may already come with upgrades and custom features such as leather seats, other security devices, etc, that would cost more if purchased brand new.
- Warranty Extensions for Used Cars are Possible:
Pre-owned car dealerships can offer extended warranties on their older cars.
It’s a great deal considering that most of these pre-owned vehicles may be nearing the end of their coverage.
You’ll definitely feel safer driving and will be able to afford additional modifications despite your car’s higher mileage and depreciated condition.
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Wider Market Options, Onsite and Online:
There are numerous car dealerships around Australia that offer used cars at great prices.
A great way to get in on the best deals is checking car classifieds such as Motor Matcher which serves as a go-to website for most buyers! They offer a panoply of used cars from sturdy Toyotas to sleek Maseratis, you definitely won’t run out of options. Get the best bargains and drive away with the car of choice!
- Car Insurance is Cheaper for Used Cars:
While insurance companies offer varying insurance pricings for different makes, models, and sizes of cars, there’s one binding similarity – coverage will be cheaper.
It’s a good sign for buyers like you because insuring your vehicle won’t be overly expensive. You can still enjoy the same insurance benefits that come with purchasing a brand new car.
Cons of Buying a Used Car
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Higher Maintenance Costs:
Used cars are just that: ‘USED’ – meaning they’ve been driven for months or years on end before getting sold to a new owner. Their mileage is higher and their overall condition may be compromised.
That’s why it’s important to have your used car’s performance and internal health verified by either your dealer or a trusted expert. Ask about predictive maintenance and repairs as it’s wiser to know about these from the get-go rather than purchase a damaged and problem-ridden car.
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Incomplete Service History:
You may easily wind up with a problematic vehicle. From faulty windows to dysfunctional air conditioning vents, issues of all sorts can be overwhelming. These are harder to avoid without insight into the car’s complete service history as knowing this provides a clearer picture of the overall maintenance, repairs and recurring defects that have already arisen. Without it, serious and costly underlying issues may be overlooked.
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Outdated Features and Tech:
Although used cars can be a more cost effective solution, the driving experience may be compromised if you buy one with outdated features and technology.
Old safety features and technology are detrimental in the long run, and can even put you at risk. Repairs and upgrades will also prove costly.
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Parts will be Harder to Find:
Aside from demanding repair needs, pre-owned cars can also have parts that are harder to acquire and may end up costing more depending on their year and model.
Are you Considering a Used Car?
This may come with its own advantages and disadvantages. Carefully weighing these will help you make the best decision. Remember, there’s no one-size-fits-all answer for this so, pour some extra thought into your future ride!