There are lots of benefits from buying a used car including lower cost, sustained reliability and impressive features, even though it is an older model. That is why Corwin Chrysler Dodge Jeep Ram of Fargo, ND wants to help you understand just want makes buying used a beneficial process.
Cost
Price is one of the costs that you should look out when getting ready to purchase a car. When you buy used, the price will be lower because it has already been driven for X amount of years. However, that isn't the only cost to look at.
Insurance monthly prices tend to be lower for a used vehicle, depending on type of car and condition. With this, not only will you be saving every month on your loan payment, if needed, but you will also be saving on your insurance payments.
One thing to point out, though, is that you will likely have to take care of all maintenance fees out of pocket. When you buy a used car, truck, or SUV, it typically has run out the original warranty. Luckily, an extended warranty is sometimes offered on used vehicles, so that can help out a lot.
Depreciation
Vehicles lose value over time, which is just part of the cycle. Buying used happens to alleviate some of that concern though. A recent study showed that in the first three years a new vehicle can lose almost half of its value, based on regular driving and habits. After that, the vehicle will only depreciate about 25% of its original value over the next three years. So, if you buy a used car after three years, then there will not be as much depreciation in its value if you choose to resell it later on.
Reliability
Every year vehicles are becoming more and more reliable. This means that when they become used vehicles, they are still reliable. According to Consumer Reports, "In an analysis of Consumer Reports' annual subscriber surveys over the past few years we found that five-year-old vehicles had one-third fewer problems than the five-year-old vehicles we looked at in 2007."
In the past, problems like rust and used exhaust systems were areas to be concerned about when purchasing a used car. Now, that is not the case. Vehicles are making it easier and easier to drive them for more than 200,000 miles in some cases because of how reliable and well-built they are. In fact, it is now very likely to have a car reach 150,000-175,000 miles.
If you have made up your mind about buying a used car, then check out our used vehicle inventory to find one that you may interested in. Then, come see us at the dealership to get a look at your favorite one in person.
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