Rising interest rates and prices for new cars can be off-putting. If you need to replace or upgrade your existing vehicle, it may make more sense to go ahead and purchase a used car from a dealership, especially if the dealership offers a top-quality service department. You may be able to find a certified used vehicle to suit your needs for much less than a used car.
1. You Don’t Suffer Depreciation
New cars depreciate rapidly. Buying a fairly new car that has been mechanically checked out may be the simplest way to get a reliable vehicle at the best price. The value of a brand-new car can drop up to 20% in the first year of ownership, which can put you upside down on the loan if you choose to finance your vehicle for the total value.
By purchasing a car that is just one year old, you can save a great deal on your purchase. If you buy from the right dealership, you can easily set up a maintenance schedule that will keep your vehicle in great shape for years to come.
2. Warranty Updates Will Be Addressed
A dealership with a quality service department will be able to help you stay on top of recalls and warranty updates. A brand-new car with a recall can cost you a great deal of time; while the repairs will be covered, you will need to bring the car to the dealership and you may have to rely on a loaner car for a time.
Before a dealership sells a used vehicle, the service department will go through any and all service bulletins. Necessary repairs will be done to make sure your vehicle is in great shape and safe to drive. Any remaining warranty protections will be included in your purchase and addressed by the service department.
3. Payment Options Are Available
If you’ve been saving for a while, you may find a quality used car that you can pay cash for. However, dealerships that sell both new and used cars will also offer terrific payment plans for those who need to finance their car.
As you consider financing, make sure you carefully review any upgrade options. For example, if you have a growing family, a two-row SUV may suit you now. Buying a three-row SUV may be a wiser choice. If you’re considering a certified pre-owned car, this extra space will make even more sense as you may hold onto the vehicle for several years.
Now may also be the time to consider a hybrid vehicle. Gasoline prices are not getting any lower. If your commute is long or you enjoy family road trips, a hybrid vehicle could be the wisest choice to guard your budget in the future.
A quality used car can keep you and your family traveling safely for years to come. Getting one that’s just a couple of years old may be all you need to save the cost of depreciation and even lower your insurance costs over time.
