Benefits of Buying Preowned Cars

A car’s impact on the environment doesn’t start when it goes on the road and it doesn’t end when it breaks down, either. It starts during the manufacturing process.

During its lifetime, it generates as much as 28% of its carbon dioxide emissions. When it has lived its lifespan, its parts will continue to affect the environment.

That’s why buying preowned cars is greener: it allows the car to remain in use and it slows down the demand for new models. There are other benefits to it as well; read on to see how it can benefit you.

1. Buying Preowned Cars Saves You Money

A car’s value depreciates the moment you drive it out of the dealership. A car is only worth its value when it’s a “new car,” but when you drive it around the block, it’s then a “used car.” In a year of normal usage, a car will have lost its value by as much as 20%.

That means you can get the same savings as buying a 1-year-old car. A car this old should still be new unless it has a history of accidents, flooding, and such. If you get a 3-year-old car, you can even get it for half its original price.

Of course, this will still depend on the model and brand. Still, the point stands that you’ll get a car for far less if you buy a used one. On top of that, you pay fewer sales tax, too.

2. You Get to Upgrade with Your Budget

One of the benefits of buying a used car is getting to choose a higher-end model Because of their cheaper prices, you get to upgrade to a better model and still be within your budget.

If you could have only afforded the base trim model if you buy new, you would be able to upgrade to a better trim level if you buy used. You might even be able to afford a top-of-the-line model with your current budget.

You could also buy a more impressive brand, like an Audi instead of a new Hyundai car. Although car technology has gone a long way, you can still get to enjoy the tech used by the better brands and model even if you buy a used one.

3. You Don’t Have to Worry About Its Lifespan

Cars last longer today than a couple of decades ago when an average car would only last 10 years or less. In the modern world, your car would have to undergo substantial abuse daily for it to fall apart within a decade.

If you buy a used car aged 2 or 3 years old, you can still expect to drive it a decade from now. By then, you might be even able to trade it in for a new one because you got tired of it.

In 2015, the average age of cars on the road is 11.5 years old. It will only increase over the years. Experts predict the number of 12-year-old cars still plying the road will rise by 15% in 2020.

4. There are Many Models to Choose From

If your budget restricted what new car you could buy, looking at the used-car market would open up a ton of possibilities for you. Aside from being able to upgrade, you can spot some pretty unique cars in used-car dealerships. You can find some with cool set-ups you wouldn’t find on the new-car market.

You may even be able to find an old model you’ve been wanting but not in production anymore. This is only one of the advantages of buying a used car; you can check this site to see the most popular ones in the market.

5. You Get Cheaper Insurance for Your Car

The insurance company takes into account the value of your car to determine your premium. The higher the value of the car, the more they’ll have to spend if you get into an accident, and the higher your rates are.

This means buying a used car will get you cheap insurance rates as the car’s value has now depreciated. Even if you don’t feel the difference between a used car and a new one, your insurance company will note of it.

You can also further save on registration fees, too, if you live in a state where they structure the registration fees based on age. In Illinois, for example, car owners pay the same amount every year regardless of make and age. In Montana, however, the amount you pay depends on the car’s age.

Then we also have the yearly taxes to consider, which many states charge on top of the registration fees. The good news is that most states also consider the age of the vehicle to determine the rates.

6. You Can Be Smart with Vehicle History Reports

Worried that a used car will break down on you within months of purchasing? The good news is that used cars come with vehicle history reports, which will show important data like the number of previous owners, repairs, accidents, Lemon Law history, previous registration status, and mileage validation.

This helps potential buyers assess whether the car is in good condition or if it needs more repairs than they thought.

Note, however, that many car owners don’t report accidents, repairs, and such. If they don’t, you won’t see it in the report.

That’s why you should still perform another inspection even if the car has a good history. If it has a bad history, though, and you’re not in the mood for extensive repairs, you’ll have to consider another model.

7. Many Dealers Offer Extended Warranties

More manufacturers are offering extended warranties on used cars today. This will cost you more on the upfront fees, but with it, you could save as much as thousands of dollars if something under the warranty goes wrong.

Is It Better to Buy a New or Used Car?

The benefits above should help you decide whether buying preowned cars is better for the environment and for you.

If you want to discover more, read our other posts now. Learn information on making eco-conscious decisions and the effects of things on the environment like the effect of old windows on your home and the planet today.