Why opting for a used car is a better choice than buying a new one?
Over the years, the demand for used cars has subsequently grown as people have started releasing that it is a much better and cost-effective solution than buying a new car. Since the values of the used cars are lower than new cars, for which eventually the cost of insurance also gets lower. So, if your goal is to save some bucks, then buying a used car is one of the wisest choices. It is extremely important for a family who is planning to buy their preferred car within budget. There are endless advantages that one could acquire when they settle for a new car. So, let us have a look at some of the most prominent advantages which highlight why you should settle for a used car rather than a new car.
Benefits of buying used cars
Well, the most obvious reason behind buying a used baleno rs in bangalore is because of its low price. But this is where exactly question arises that why the used car has a lower price than new cars? So, let us have a look at the multiple reasons which shows why you should buy a used car.
- Depreciated value
When a car is driven out of a showroom, it loses its value for up to 20%, and with each year, the value car goes down 10% or more. So, in total, the car loses around 30% of its original value with each year. So, if the original value of the car is around 30000, the car will lose around 9000 from its original value. Regardless of how much the car is being used or how well the car is maintained, the value of the car will go subsequently down with every year. So, this highlights that you can buy your favourite car which you have been dreaming for years to own in a much lower value.
- Reduced cost of insurance
One of the key factors that will help to determine the value of the car is by calculating its insurance amount along with the age of the car. Since the value of a car goes down with every year that passes by, the insurance value of the car also goes down along with it. Moreover, there are some certain key factors which could help to lower down the value of the car even a step further. And this is one of the best reasons which shows why buying a used car is always a wise choice. When you buy a new car, the insurance value of the car is pretty costly which takes the overall cost of the car goes even higher.
- Reduced registration fees
Along with the overall value and the cost of insurance, the registration cost of the car also goes down. The fee for registering a car varies from one state to another. But the registration fees are charged depending on the value of the car. But over the years, many countries have started increasing their registration value for getting more revenue. So, when you are planning to buy a used car, not only will you save money through the depreciated value if the car, but you will also save money by giving a low insurance cost and lower registration fees.
Another reason for buying a used car is its cost-effective solution. When you buy a used car from a reputed seller, the quality of the car is warrantied. So, eventually, you will be paying a much less amount than the same car with the same features and quality. If you don’t have a big budget, than affording a luxury car will be quite tough for you, but then again if you search for the same car that is 2-3 years old, then you will find that total cost of the car, which includes the cost of the car, the insurance cost and registration cost, is much lower than the original price of the car.
- Approved warranty
Another one of the greatest advantage of buying a used car from a reputed seller is that they provide a warranty. The reputed sellers have their engineers who thoroughly inspect the car to rule out any mechanical fault of the car. They also do a background check of the car thoroughly by going through the VIN which is the Vehicle Identification Number where all the valuable information of a car is stored. Through the VIN, the original mileage of the car can be determined along with the insurance status of the car.
So, if you are planning to save some money while buying a car, then buying a used car is the best choice that you can have, But at the same time, it is also essential that you buy the car from a reputed seller.