ONLY at Keith Pierson Toyota as low as 0% 36 months on Camry, Corolla and RAV4.
When deciding to buy a car, most people have a set budget and need to make a choice between a new or a used one. While making this choice is a purely personal decision, there are some major advantages that come from choosing the latter.
You’ll Be Spending Less Money
The most obvious reason for buying a pre-owned vehicle is the fact that it’s less expensive than when it was new. Although an item losing some of its value after being used is normal, most vehicles have a depreciation rate that’s far steeper than the depreciation in quality. It’s estimated that cars lose around 20% of their value each year, meaning that a 3-year-old car can cost around 40% of its original value while still being in tiptop shape. Also, if you decide to sell it in a few years, you won’t be losing as much money as you would be if you had been its original owner.
There are also other ways in which you can save money by choosing to buy a used vehicle instead of a new one. Some unavoidable costs, such as insurance premiums, are proportional to the car’s estimated value, so you would be paying much less for a car that’s a few years old than for a new one. Also, when buying a new car there are other costs that you need to keep in mind, such as registration fees. When buying a used one, the only thing you have to pay upfront is its asking price. At Keith Pierson Toyota, you have the option to trade in your vehicle to help offset the costs of purchasing one of our used vehicles!
It’s Better for the Environment
While the case for protecting the environment by buying a gas-powered car may seem like a bit of a stretch, buying used instead of new does exactly that. The manufacturing process for making a vehicle from scratch is a very complex one and involves mining prime resources, making components, assembling them, shipping the final product to the dealership, and numerous other steps along the way. When you’re buying a vehicle that’s already been on the streets for a few years, all those steps have already been covered. From that moment on, the only environmental impact comes from directly using it.
You’ll Be Getting a Much Better Car
Another major advantage that you can benefit from when buying used is the fact that, for the same budget, you can buy a significantly better car. Due to the earlier-mentioned depreciation rate, you can get a premium pre-owned vehicle for the price of a lesser-equipped new one. Even if you have your heart set for a particular make and model, getting a used one instead of a new one can get you many more premium features, like leather upholstery, a more powerful engine, more safety features, extended infotainment functions, and much more.
If You Buy From a Dealer, You’ll Get a Thoroughly Inspected Vehicle
Although a new car comes with a full warranty from the manufacturer, returning to the dealer to fix various faults that may occur is still a major hassle. If you buy a used car from a certified dealer, however, you can be sure that it has been thoroughly inspected by certified technicians and that the odds of something happening to it in the foreseeable future are very slim.
Although its original manufacturer’s warranty may have expired, when buying a used vehicle from a dealer you usually benefit from the dealer’s own warranty. Also, you can be sure it’s in their best interest that you’re satisfied with your purchase because they want you to choose them again in a few years’ time when you are ready to change your vehicle again.
You’ll Know Much More About That Particular Model
When buying a new car, you’re usually getting the latest model. While this has its obvious advantages, such as you getting the latest automotive technology, that particular model hasn’t yet passed the test of time. When that car model you’re buying has been on the market for a few years, you can extensively research it online, consulting user and manufacturer statistics to determine how reliable and safe it is.
Having the opportunity to research user and expert reviews can help you make a better decision, as you can research multiple models and see which one is more appreciated by its owners and by industry experts. You also have access to plenty of advice on how to get the most out of your vehicle, how to take advantage of various upgrade and tuning options, and other similar perks.
It Can Improve Your Credit Score
If you decide to buy a used car with the help of an auto loan, not only will the payments likely be more affordable than for a used one, but you can also improve your credit score. The most important aspect of your credit score is making all your payments on time; simply doing that for the duration of your loan can work wonders for your rating.
Your credit score is also influenced by your credit mix, which means that it’s important to show you can manage multiple credits at the same time. Adding an auto loan to your existing loans can improve this credit mix, helping you access better credit conditions in the future.
Modern Cars Tend To Last Longer
The main concern for people who consider buying a used vehicle is the fact that it may break down more quickly than a new one. While this was a real issue a few decades ago, modern cars last longer, with modern cars lasting an average of 11.8 years. This means that if you buy a pre-owned car that’s a few years old you can realistically expect it to function without any major issues for about a decade. It also means that you may be getting a good deal if you decide to sell it in a few years.
While buying a new car has its own obvious advantages, there are still plenty of reasons why you’d be better off buying a used one. If you’re looking for a large selection of pre-owned vehicles in great condition, visit us at Keith Pierson Toyota and check out our used car inventory! We also are always cycling through various used specials, so be sure to check back frequently!
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