With the price of new cars rising every year, now might be the time to look at the benefits of buying a used car. There are a lot of reasons why you would buy a used car, and here are a few advantages of buying a used car from a dealer.
Loss of Value
As you know, a new car is worth less the minute you drive it off of the dealership lot since all of its moving parts are now starting to wear. It is easy to lose thousands of dollars just waving goodbye to your salesperson. The auto industry professionals say that the new car loses 10 percent of its value the first time it is driven home.
Since the used car has already taken its initial depreciation hit, it is slower to depreciate over the time you own it.
Pay Less for a Better Model
No matter which make or model you prefer, you can get a better model for less money. Why settle for a base model when you can own the top model with all of the high-tech features and luxurious leather seating?
Remaining Factory Warranty
Used cars keep whatever remaining factory warranty that is available. It may only be a powertrain warranty, but that can cover several major parts like valve covers, cylinder block, heads and manifolds. Even if the vehicle only has a little warranty left on it, you may be able to purchase an affordable warranty for it.
Most used cars that are on a dealership’s lot have gone through a basic safety check, as well as had fluids changed and some of the wear and tear parts replaced, so you are getting a vehicle that has been looked at by a mechanic before being offered to the public.
Built to Last Longer
All of today’s cars are made to last longer than ever before, so mileage is not the issue it used to be. Vehicles with 150,000 miles on them can continue for another 150,000 miles under the right circumstances and with regular maintenance.
The average age of a car in Singapore is 5.4 years, even though globally, the age is closer to 10 years. This means that the used car market in Singapore has an abundance of used cars with years and miles of life left in them.
No Waiting
Because they are used cars, you can get the keys as soon as you buy the vehicle no matter if you buy from a dealership or an individual. There is no waiting for a dealership to have a new car shipped from overseas to your home. There is no registration wait, either.
Buying a used car is the best solution if you want a car immediately.
COE
When you buy a used car, you no longer have to worry about the COE prices. If you were waiting for the COE to go down so you could buy a new car, you might be waiting a long time. With a used vehicle, you get the previous owner’s COE.
These are just a few of the many advantages of buying a used car over a new car. Since there are so many makes and models to choose from, you are sure to find one that you cannot wait to drive home.