Why Should You Get a Used Car?
Written by DriveAxis.ca December 08, 2021
Used cars are an affordable way to commute and get around town, giving you the best value and convenience for your money.
Although some people are convinced that new cars are the only way to go, a used car offers many benefits for people who want to save money without having to sacrifice quality.
Read this short and comprehensive list of great reasons why you should get a used car, and how a used car can benefit you!
1. Depreciation
Next to a house, a car is usually the biggest purchase you make in your life. However, unlike a house, a car is not an investment that will increase in price. Instead, cars are products that break down over time, losing their functionality and value with each new day that you use them.
This effect is called depreciation, and for cars it specifically refers to how much value a vehicle loses over time. And although all cars depreciate in value, used cars depreciate at a much slower rate than new cars.
Once you buy a new car, it begins to depreciate in value the moment you drive it off the lot. On average, it takes just four years for a vehicle to lose roughly half its value. As such, it makes sense to buy an older vehicle instead of buying it brand new. The depreciation of a new car in the first three years of its life is much more than years 4-6. So if there’s a new car that you really like, you can save a lot of money by buying it as a used car years after its initial release.
Since new cars depreciate so much faster than a used car, it makes financial sense to choose used cars over new ones.
2. Affordability
An advantage that used cars will always have over their new counterparts is affordability. A used car will always feature a lower purchase price than the same car offered when new.
Used cars have lowered prices due to factors like depreciation, wear and tear, and the redundancy brought on by new models with in-demand features. That said, there are some strong advantages.
Due to their lower cost, consumers are now able to drive vehicles that they never would have been able to afford if purchased brand new.
By shopping for a used car, you will find that you get more bang for your buck.
3. Lower Monthly Payments and Insurance Rates
Financing a car can be an intimidating expense that visits you regularly in the form of monthly payments.. Not only that, car owners need to purchase car insurance that is based upon their assigned insurance rate. As any car owner can tell you, these ongoing costs can really add up over time.
Fortunately, there is a simple way to mitigate expensive monthly car payments and high insurance rates, and that is to buy a used car.
Generally speaking, used cars cost less than new cars to insure because they are older and usually less expensive. As used cars have lower prices than new cars, you can always assume that the monthly payments on a used car will be lower than those of a comparable vehicle.
4. Overcome Reliability Concerns
The main argument made against buying a used car is lack of reliability. Some car purchases are wary about the history of a used car and what unseen problems it may have. What these purchasers don’t know is that buying a used car has become a safer process for car buyers and offers more consumer assurances than before:
- Certified pre-owned programs: Some dealers offer used cars that have been tested and fixed to ensure they’re operating at peak performance.
- Detailed vehicle history reports: Find out if a used car has been in a prior accident by cross-referencing its vehicle identification number (VIN) with companies such as Carfax, AutoCheck and VINCheckPro.
- Technological advancements: Cars are made much better and more reliable these days, resulting in a used car market with vehicles that remain reliable and functional for a longer time
Don’t let the stigma of used cars hold you back! Use these advantages to find a high-quality used car that can serve you well!
5. Easy and Convenient Financing Options
It’s never been easier to finance a car than on DriveAxis.ca
We’re the first lender-driven online car buying experience where customers can get approved instantly!
Finance your car through DriveAxis.ca to benefit from these great features:
- On-the-spot financing: Get instantly approved with our online platform.
- All kinds of credit accepted: Bad credit, good credit or no credit – we want to help you!
- Top quality assurance: Our vehicles undergo an extensive 300-point inspection.
- Purchase on your own terms: Buy a used car anywhere and anytime.
- Haggle-free experience: Browse our extensive car catalog without any pressure.
- Full customer support: Full advisor support through chat, email, and phone.
- Peace of mind: Test own your vehicle for 7 days with our Return or Exchange Policy
By leveraging all of these listed advantages, you’ll be able to find a used car that fulfills all your needs, and save money at the same time!
Interested in getting a vehicle? With DriveAxis.ca, you’re just moments away from getting approved. Get approved today!
