The 10 Best Advantages of Buying a Pre-owned Car
Written by DriveAxis.ca March 29, 2023
Buying a car is an expensive investment, whether you go new, or pre-owned. However, there are distinct advantages that come with choosing the latter, and not all of them are as obvious as you might think. With so many pre-owned models available, there’s a bounty of choice for the discerning driver looking to pick up their next ride.
Here are some of the greatest advantages that come with buying a pre-owned car. Make sure to read every one of them so you can arm yourself with the knowledge necessary to choose the right one for you, and your family.
A LARGE INVENTORY TO CHOOSE FROM
While the hottest new makes and models may be a tempting choice, the simple fact is that there are only so many to go around. You may have your eyes set on a particular car, only to find out that it’s been sold out or reserved in short order. By contrast, there are plenty of pre-owned vehicles to choose from, some only a few years older than the one you may have been eyeballing on the showroom floor. It’s a virtual smorgasbord to choose from, and buying from a reputable dealership means you’ll drive off in a stellar car that goes the distance.
CHEAPER INSURANCE
While insurance varies on particular makes, models and trims, most pre-owned cars cost a lot less to insure every year. Brand new vehicles almost always require full insurance coverage, since the majority of buyers will either lease, or finance through a lender. In order to protect this investment, lenders will dictate full coverage as a necessity. While this may also pertain to people who finance a pre-owned vehicle, insurance costs are generally lower due to depreciation. If you buy your pre-owned vehicle outright, you’re free to pick and choose your coverage options as you see fit.
AVAILABLE CAR HISTORY
Choosing a pre-owned vehicle allows you to skim over its history via CARFAX, which is handy when you’re trying to get a sense of the car’s quality and upkeep. Though CARFAX can’t account for everything, the best cars tend to have long histories with lots of details, so you can see exactly when maintenance was performed, as well as any accidents great or small. DriveAxis maintains CARFAX reports on all of our vehicles so that we can share this information freely, before you decide on your car of choice.
TEST-OWNING
While the act of test-driving a vehicle is as old as time itself, test-owning is still a relatively new concept. Many dealerships are now offering a grace period whereby drivers can “test own” their vehicle for a small period of time, in order to get a feel for it. If they don’t like the vehicle, they have the option of returning it for a different model. DriveAxis offers a lengthy test-own period so that you can be sure the car you’ve chosen is the best fit for you, your family, and your lifestyle.
SKIP THE DEPRECIATION
Buying a new car means getting hit with an immediate wave of depreciation that occurs the second you drive it off the lot. This depreciation continues apace throughout the first 12 months, at which point the phenomenon slows down. All cars depreciate over time, which is why buyers interested in a pre-owned vehicle can take advantage of a huge selection, while skipping over the depreciation period. There’s many great deals to be had, as well as a smaller depreciative hit over the course of time. This is good news if you plan to sell the car at a later date.
LONGEVITY AND QUALITY
In the old days, a pre-owned car was something of a gamble. They weren’t made to nearly the same standards of quality as cars that roll off the lot today. In fact, many budget-level manufacturers are churning out vehicles that rival some of the most exquisite and luxurious vehicles of yesteryear. That’s a testament to continued R&D and process refinements. It also means that drivers can purchase pre-owned vehicles without worrying about the bottom falling out while cruising down the highway.
CERTIFIED PRE-OWNED GUARANTEE
Ontario law stipulates that pre-owned cars need to pass certification tests before they are allowed to be resold. This is a level of protection afforded to the next buyer so that they aren’t caught with a lemon, or worse - a potentially unsafe road hazard. Many times, Certified Pre-Owned (CPO) vehicles are reconditioned and touched up to make sure they’re running in tip-top shape. Some are even brought up to the manufacturer’s exacting standards in order to secure an excellent warranty status. CPO vehicles need to be mechanically sound, while adhering to certain quality and emissions laws. At DriveAxis, we adhere to these laws while simultaneously backing up each of our vehicles with a 300-point inspection process, for your peace of mind.
EXTENDED WARRANTIES
Many people arch their backs at the thought of extended warranties, but they are invaluable when choosing a pre-owned vehicle. While certification and a thorough inspection process are wonderful in and of themselves, the extra peace of mind that comes with an extended warranty is icing on the proverbial cake. Buyers are able to drive off knowing that their pre-owned car is backed with a warranty that will tackle almost any issue, which avoids any nasty (and costly) surprises.
MORE INFORMATION RESOURCES
Brand new cars have only their good looks and fancy tech to speak for themselves, whereas pre-owned cars have gone through the rigors of the road for a few years. This creates a buildup of valuable information that buyers can reference before deciding on the car they want most. YouTube videos, online reviews and car forums can help buyers determine what issues a particular car has, and whether they’re isolated, or part of a greater problem with the quality assurance, safety or manufacturing processes. Always remember that each new model year is different from the last, and any flaws that creep in may affect the entire line.
BETTER DEALS VIA A LARGER MARKET
It’s no secret that the brand new car market is in something of a slump, and that’s expected to continue throughout the next few years. In the aftermath of the pandemic, and the economic inflationary spiral that followed due to bad monetary policy, auto manufacturers are taking a hit. That’s driven many buyers to the pre-owned market, which has caused it to boom in a big way. This particular market is a treasure trove for buyers looking to secure fantastic vehicles at great prices, with lots of perks thrown in for good measure. Plus, advancements in online car shopping via marketplaces like Facebook, Kijiji and AutoTrader have made the process that much easier.
CONCLUSION
If you’re in the market for a beautiful pre-owned vehicle, it’s time to contact DriveAxis. We know all the perks and highlights of going the pre-owned route, and we’ll walk you through the process, every step of the way, while giving you the freedom to make your choice without any hassle.
Need help financing? No problem! DriveAxis handles financing in-house, which means we get to approve everyone who applies, regardless of their credit history, or lack thereof. We’ll help you narrow down your options to the car that best suits you, and makes you smile! Contact us today to get started.
