While it comes about buying a vehicle, you have to take plenty of decisions, like, what is your budget, car type you want to buy, the car make, model, as well as colour, and if you can make the down-payment upfront and avail services of the car loan. Such important choice you have to consider is if you want to buy the new car or go for the second-hand car.
When buying the brand-new vehicle will be the most exhilarating thought, and opting for second hand car has got own benefits. As per the market surveys, used car sales have gone high by 50% during past 1 year, primarily because of entry of the organized players in this segment and higher assurance of the cars getting sold. Continue reading to know more about some benefits of buying the used cars in Sacramento than new one or how it will be the smart choice:
Facilitates affordability
Most specific benefit when opting to buy the used car rather than the new car is it facilitates affordability and thus, increases savings. You may own the pre-owned vehicle of your most preferred make & model at the lesser cost when compared with the new vehicle of a same model.
Minimizing depreciation
Value of the new car begins depreciating from moment it gets driven out of showroom. Generally, market value of the car reduces by around 20% every year for first some years after the purchase. It means that the new car may lose around 50% of the value during first 2 to 3 years. Although different cars have got different depreciation rates, and some of the luxury cars have the steep depreciation rate on first some years. Cars in low demand lose the value quite with time. You may avoid this hit by purchasing the used car since it will have suffered the maximum depreciation till then and won’t lose much of value in its forthcoming years. Certain factors you must remember before you calculate depreciation or buying the used car at cheaper rates will include:
Vehicle Condition: It’s recommended to check out fuel exhausts or any oil leaks prior to selecting the used car that gives you power of bargaining better as well as saving some money on the future repairs
Performance: The car offering the better distance is the best bet since it won’t just save you some money but it is an indicator of the car’s best performance.
Brand: There are some car brands that have got prolonged value because of the popularity, whereas others lose the value significantly because of increasing competition. Therefore, thorough research will get you very close to 60% of the car’s price in 3 years.
