5 Best Benefits of Buying a Used Vehicle

Benefits Of A Used Vehicle

1. Lower Insurance Rates

You would be surprised how many people don’t know the fact that used car insurance typically costs less per month than a new car. This makes the savings of buying a used car better on a month-to-month basis, as opposed to a brand-new car.

2. Used Cars Cost Less

It is no shock that a used car with a good amount of mileage on it will cost significantly less than the same car with no mileage. Used cars will always be more affordable than buying a new vehicle. This means that if you’re looking to save a few thousand dollars then you should search for a vehicle with a few thousand miles logged, or at least a few years older.

3. Less Depreciation

Every new car loses a large portion of its value as soon as you drive it off the lot. It’s also important to know that new cars continue to lose value at a high rate, especially for the first year after purchase. This drop could sometimes be as much as 40%. Used cars depreciate at a significantly slower rate, so one could argue that a used car is a much better investment than a new one.

4. Some Used Cars Inlucde A Warranty

The more value your car has, the more your insurance payments will be. For example, insurance for a 2023 Mazda Miata may cost over $$250 a month to insure, but a 2015 may cost around $100. Comparing insurance rates before you buy a used car is a smart idea as well.

5. More Choices

When you’re browsing for a car you plan to make your long-term vehicles, you may want a model, option package, or even wheel design that’s no longer made. A wider selection of used cars can add many more options and overall choices from vehicles that may not be as popular as they once were.