The Advantages Of Used Car Dealerships
Brand new cars are glittering, and this drives many to buy, but experienced car buyers know the value of buying used cars. Used car dealerships have lots of advantages as highlighted in the section that follows. When you buy a used car you can save a considerable amount of money. The average cost of used vehicles is about 50% of new vehicles which means when you buy a used car, you can save half the money you would have used to buy a new one. If you approach a lender to help you get a used car, the repayment period will be shorter, and the regular amount to be paid will be much less than when you bought a new vehicle.
When you buy a used vehicle, bulk depreciation of the car has already taken place. It is a fact that cars depreciate so much as soon as they are driven out of the lot.
The value of new vehicles is estimated to come down by 11% as soon as they are driven away from the lot. As time goes by the vehicle loses its value at this rate. By the time you are buying the used vehicle, a huge junk of depreciation has already taken place. You can even be surprised that some used vehicle might even gain some value.
The other good thing about used vehicles is that they do not have exaggerated fees as compared to new vehicles. There are numerous hidden costs in new cars such as shipping costs, dealer preparation fees, and destination charges. It is not surprising to see a new car dealer charging their clients some advertising fee and the amount can go up to as high as $ 1000. Buying a used car does not attract any hidden charges which help the buyers save a reasonable amount of money.
Used car dealerships also have lower customization costs. New vehicles attract expensive add-ons. This can help you to save some money further.
Used cars are also certified and well inspected. The used car dealers also put a lot of emphasis on inspection and effective refurbishing of used vehicles so that the clients can get a quality vehicle.
The used car dealerships can give their customers extended warranty and specialized financing when their counterparts in the new car dealerships are only holding on to the assurance that the vehicles that they sell are new. While some used car dealerships have cars with the original warranty,others will offer you the chance to get a new warranty.
The other advantage of used car dealerships is the reduced insurance premiums unlike new cars which attract more premiums. Annual registration fees for used cars are also lower.