Amongst all the significant achievements, buying a car is another huge milestone you want to achieve after owning a house. When it comes to buying a new car, you stumble upon the dragon of funding that can eat all your dreams out. So to keep up with you stable finances while enjoying the satisfactory ride, it’s imperative to stick with the used cars.
A swanky new vehicle does catch your eyes especially after that shiny television ad that drew you into a dealership to see that new car. But ask yourself! Is the new car right for you? Inevitably, it has all the bells & whistles along with the attractive financing option, but what the other choices you want to get along with?
The very first thing that comes into your mind is the used cars. Preferably, there are many reasons to buy a used vehicle as it saves you a lot of money while offering the same satisfaction as a new car does. So let’s dive in;
Depreciation
For obvious reasons, cars depreciate. Perhaps that’s the reason why buying a new car as an investment is a bad idea. Even though the cars are lasting longer, they still lose most of their initial value early in the lifespan. While some of the models can handle depreciation better than others, most of the buyers should expect a new car to lose over 50% of its value within the first 3-tears of rolling off the lot.
So for all the perks that are packaged with a new swanky car like warranties, free maintenance such as Mercedes repair in Dubai and low financing, the obvious law of depreciation remains a substantial cost and certainly the most persuasive reason to buy a used car.
Certified Pre-Owned Options
For many car owners, having a warranty for protection against a car’s shortcomings is well worth the premium they pay for a new car. Nowadays, all the carmakers offer some sort of a Certified Pre-Owned (CPO) program that makes buying a used-car a much less worrisome endeavor. Normally, the CPO program varies depending on the manufacturer.
In addition, there’s a huge difference between manufacturer certified & dealership certified having the former offering a more robust package. Cars that are manufacturer certified offer some level of warranty along with some additional perks like free roadside assistance or perhaps a free loaner car when your car needs to head to the shop.
Cheap Registration Fees for Used cars
Typically, it depends upon where you live. But in most cases, the cost less to register. Inevitably, some of the states do charge a certain amount no matter what kind of car, but many still charge less depending on the car’s age, weight and power. So you live in a state that’s a bit lenient over the registration fees, it’s undoubtedly going to save a lot of money.
Besides, many states still charge some yearly taxes that are also based on the vehicles – that in many states – are known as an excise tax. But fortunately, that tax is dramatically reduced once your car is two years old and even older than that. So even in that case, you’re saving quite much.
