There’s nothing like the joy of driving a brand new vehicle back home after spending several hours at the dealership, but the costs associated with buying a new car can be a bit overwhelming for the average person. Buying used vehicles often gets a bad reputation, yet there are plenty of benefits associated with buying used cars.
Here are a few reasons you should highly consider buying used instead of new.
Lower Cost of Insurance 
No matter which vehicle you decide to purchase, the actual price you spend on car insurance each year will depend on the value of your car. When you buy a new vehicle, the value of the vehicle is inherently higher and will ultimately cost you significantly more money in yearly insurance premiums.
By buying used, you’re not only able to spend less on the vehicle itself, but you’re also able to cut down your yearly costs of car insurance. When you save money on insurance, you have more money in your pocket to spend on the things you really need.
Get More for Your Money
The allure of buying new vehicles is the concept of it never being driven or owned in the past. Yet, as soon as you drive your newly purchased vehicle off the lot, its value drops tremendously.
When you buy a used vehicle, you’re getting exactly what you pay for. Used vehicles are priced based on what they’re actually valued at, which takes into consideration their make, model, year, mileage, and condition.
More Vehicles to Choose From
If you’re looking to buy a new vehicle, you’re extremely limited in your options. Not all vehicle manufacturers put out new models each year and many more popular models have also been discontinued.
When you decide to buy used, your options are essentially limitless. You have full access to vehicles of any make, model, year, or condition. This gives you the greatest opportunity to select the vehicle that best fits your needs and is within your price range.
Lower Depreciation Rates
One of the most troublesome aspects of buying new vehicles is how quickly they lose their value. As soon as you begin to accumulate mileage and normal wear and tear, the vehicle’s value will rapidly decline.
By electing for a used vehicle, your vehicle’s value will be entirely determined by the state of the car and its value according to the Kelley Blue Book. This can help to save you a ton of money in the long-term, as your vehicle will maintain value better and you’ll get a more realistic resale price.
Buying a brand new car is an indescribable experience, but it never seems to pay off in the long term. In fact, there’s plenty of evidence that buying a used vehicle can save you money and give you a wider selection of vehicles to choose from.
If you’re looking for a used vehicle or just want to see what you can get for your money, check out the impressive inventory at Thornhill Mitsubishi.
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