The difference between a new car and a used car is similar to the difference between a luxury hotel and a quaint bed and breakfast. There's a gap in prices, but ultimately, both serve the same purpose; some people even argue that it doesn't make sense to pay for more when you can get the same thing for less. Below are some reasons people prefer to buy Edmonton used cars:
Used cars are more budget-friendly than new cars, and by buying a used car, one can save money and use it to buy other essentials instead. However, buyers should do their homework first before buying a used car to ensure that they buy vehicles in good condition. In the long run, buying a used car in subpar condition would cost more in the long run.
New cars are said to lose 20 percent of their value once driven off the lot, and it further loses 10 percent once it reaches its first year—making the total an alarming 30 percent loss in value. For instance, a person buys a $30,000 SUV, and the vehicle loses $9,000 of its value during the initial year of ownership. Since depreciation flattens out by the time the vehicle reaches its second year, one would have avoided bearing the brunt of depreciation by buying a two- or three-year-old vehicle for its depreciated value.
In the past, some people were wary of buying a used car because of the possibility that the car may have been damaged in a prior accident, making it unreliable on the road. Fortunately, these days, buyers have a way of confirming whether a car has sustained major damage previously— and that's through a vehicle history report. Also, it's important to find an Edmonton used carcertified by the manufacturer.
Many dealerships now offer a wide array of options for used cars. If a person has his eye on a Ford Escape, he can opt to buy an old model instead, and generally get the same benefits as he would when buying the 2013 version. Old models of the Ford Escape were designed like a traditional SUV—offering comfort, versatility, and towing capabilities.
Reduced Registration Fee
Registration fees depend on the year, make, model, and use of the vehicle. Newer vehicles typically cost more to register than older vehicles. For more information, visit bankrate.com/finance/auto/5-smart-reasons-for-buying-a-used-car-1.aspx.
Five Reasons Why Buying Edmonton Used Cars Is a Good Idea