7 Benefits Of Buying A Second-Hand Car

Posted on August 22, 2017 in My Blog

Buying Second-Hand Car

Did you know that the used cars for sale in your neighborhood has several buyers? According to latest reports by experts in www.autoexpress.co.uk, most individuals prefer to buy a second-hand car rather than a new car. Here are few reasons that will coax you into heading for the showroom now.

Cost-factor
Simple logic says that a new car incurs more cost than spending your dollars on a second-hand model of the same brand. If you have applied for a car loan, the lending bank or the financial institution will require a down payment of nearly ten per cent on loan. If you wish to pay less, note that your monthly installments will be higher.

CPO Programs
Luxury cars like Lexus were the reason why certified pre-owned programs or CPO was introduced. Majority of the manufacturers prefer the earlier version of the model and those with low mileage for their CPO program. This means if you just bought the used Benz car from the dealer, it has been subjected to stringent mechanical inspection before it receives the certification.

Warranty Period
All automobiles with a CPO certification have a period of guarantee that exceeds the original guarantee period offered by the factory. This includes all the features that are covered for a brand-new car including roadside assistance.
Do a thorough research to find out if the manufacturer has any special financial deals for the CPO vehicle. This can cover a low rate on the car loans.

Tip:

Bear in mind that as a buyer, you may end up paying slightly more for a CPO car than a regular model. This extra money is definitely worth the peace of mind that you experience.

No depreciation
Once a new car is driven out of the showroom its value drops by several factors and this is referred to as depreciation. If your neighbor purchased a new Porsche for $50,000, you could buy it for the second hand at a much lower price. Would you rather be the first buyer who lost nearly $13000 or would you be the second buyer who owns a second car and saved dollars?

Zero Sales Tax
All new cars have a mandatory state sales tax on them. However, if you buy a used car from a dealer, you are exempt from the tax. This sales tax when added to the original cost of the car can result in a few extra dollars. You end up saving that hard-earned money if you buy a second-hand car instead.

Registration fees
In several American states, the rate of the registration fee is calculated based on the model of the car and the year of build. The value falls drastically in the initial years after the automobile is manufactured. It is the highest in the first few years and then depreciates after four or five years. If you buy a five-year old used car, you can avoid paying the registration fee since everything has been taken care of.

Additional add-ons
If you are looking for a particular feature like a sunroof or music system in a used car, you pay a small amount compared to the price incurred by

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