1500 Richmond Avenue, Brandon, MB, R7A 7E3
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Excellent Reasons for Buying a Used Car

Excellent Reasons for Buying a Used Car

When you decide to buy a car, you’ll have plenty of options available to you. While used cars may not be your first option, they may be your best option. We’re here to show you a few great reasons for driving away from the car dealership in a used car.

 

Lower Insurance Cost

 

Factoring in insurance with the overall cost of a vehicle is an important part of making sure you can afford your vehicle. When it comes to used cars, the insurance for them is often lower than that of brand new cars. In addition to a used car’s reduced value when compared to a brand new car, there’s also a chance that you can drop some aspects of your insurance if the car is old enough, such as theft and collision. One thing to bear in mind is the fact that used luxury cars can have insurance premiums that are just as much if not more than the premiums for a standard new car.

 

Lower Depreciation

 

You may not realize it, but as soon as you drive a brand new car off of the lot, its value can drop as much as 20 percent. What’s more is your new wheels can lose even more value in the first year of ownership, often as much as 10 percent. Simply buying a used car that’s only a year old can keep you from getting hit with a 30 percent rate of depreciation in your first year of ownership.

 

Lower Registration Fees

 

Yet another reason to opt for a used car is that they usually come with lower registration fees. The basis for your savings is because the rate an area charges for registering your vehicle is determined by the vehicle’s transaction price. If you live in an area that’s recently increased registration fees, buying a used vehicle could be a good way to keep from feeling the hurt in your wallet.

 

Buying a used car can be just as satisfying as buying a new one. Keep your options and your eyes open to the possibilities and the savings.

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