Going for a used car? It will give better value for money. That is one of several benefits.
It will also save money. Buy a car at a price less than the price of a brand new car of the same model and make and save money.
1. Involves Making Crucial Decisions
Buying a car involves several crucial decisions. For example, what’s the budget set aside to pay for a car? Other decisions include the car type.
Make, model and color? The financial position to make the quoted down-payment? Or, will it be a car loan?
A key decision is whether to buy a spanking new car or settle for a used car, a secondhand motorcar?
Buying a new car gives a thrill. But a used car has its special benefits. There are media reports that the used car business is going great guns worldwide.
2. A Smart Decision For Many Reasons
Organized online players like https://www.zemotor.com have entered the used car market. Assurance for the sold used car has also witnessed generous spikes.
In some countries, used car sales have increased by as much as 50%. Buying a used car is a smart decision for a plethora of reasons.
One specific benefit, perhaps the most alluring, is the used car’s affordability. The used car available at a price lower than the price of a new car saves you a portion of your savings!
3. Beating Depreciation The Used Car Way
Second, the secondhand car minimizes depreciation. A car’s value starts falling from day one of its purchase.
Annual depreciation could be as much as 20% a year. Which means almost 50% depreciation in only three years.
Buying a used car beats depreciation. The secondhand car has already depreciated its maximum.
It’s not going to lose value any further. It’s in the ‘bonus’ stage of its life. Superannuation!
4. Still Popular Used Vehicles
That said, there are certain factors to consider before assessing depreciation and buying secondhand cheap.
One, there are used vehicles that retain value because of brand popularity. Competition undermines other brands.
Ergo research and, only then, buy.
The used car’s state of condition is important. Check its fuel exhausts. Look for oil leaks. If oil’s leaking there’s a chance to bargain for a better deal. Future repairs will then pay for themselves!
5. No Payments To Government
The performance of a used car is paramount. More miles a liter of gas will save money. It’s also an indication that the car’s performance is pretty okay.
One big benefit of a used car is that the first owner has made the required extra payments to the government. Like registration fees. RTO charges. And road taxes.
These are mandatory for a new car. Not for the secondhand owner. The used car just drives through! The used car is by far a better buy.
6. The Emergence Of Organized Players
That being said, used car buyers should read documents such as the registration certificate. The purchase invoice.
Insurance policies. Service history papers. Road tax invoices. And certificates of pollution control. Also, the manual is given to the car buyer by the car manufacturer.
Note that used cars are no longer considered junks. Organized players have changed the name of the game! Especially, online used car entrepreneurs such as Zemotor.
These online used car dealers provide full assurance. Some even promise a limited warranty on the used vehicle sold, which is tested for quality and durability before it changes hands.
7. Cheaper Add-Ons
Yet another reason to go for a used car is that installing add-ons is cheaper compared to a new car.
Like windscreen films, bumper guards and alloy wheels. Many used cars may come with these accessories. That at no cost!
Car insurance premiums depend on the car’s market value. Brand new cars pay high premiums.
They command a high market value. The used car’s market value is already at the bottom. It has seen considerable depreciation. Therefore, the insurance premium for a used car is far lower.
8. Cross Check And Check With The Mechanic
A word of caution. Get the used car’s insurance policy changed in your name before buying. The name of the owner must be changed. Two, read the claims history. Cross-check with the insurer.
A used car not only saves savings, but it also reduces the carbon footprint. It had already achieved this dubious distinction when brand new. A secondhand car has not much of an impact on the air we breathe.
But the part with money only after a test drive and a thorough examination of the used car by a mechanic. Having a car mechanic for a brother-in-law will be a lucky coincidence.