This is from a reader Jess Lambert. I believe that it’s almost ALWAYS better to buy slightly used but here’s what she says.
Considering the purchase of a used vehicle may bring with it some apprehension and fear. But sometimes, purchasing a used car can be a fantastic and rewarding experience. If you’re not sure what to expect and want to know the downsides, as well as the positive aspects, this list of pros and cons for purchasing a used vehicle, is perfect for you.
Pro: Cost Savings!
You will definitely save money buying used. There’s often no monthly payments unless you buy it off of a lot, and you won’t have to deal with depreciation, which is a very big issue when buying new. People who purchase a brand new vehicle lose thousands of dollars just driving their car off of the lot due to depreciation. Not only this but because you’re not going to be driving around a new car, your insurance rate will also be lower!!
Con: No Warranty or Guarantee
A con to buying used would be that oftentimes, you won’t end up with a warranty or a guarantee. You’ll end up with exactly what you paid for. This is why it is extremely important if you’re purchasing used to have a mechanic give it a thorough glance over to be certain nothing is terribly wrong and will end up costing you more than the car is actually worth.
Pro: All Business
When you’re purchasing a used car, especially from a private seller, they’re going to be in a hurry to sell you the vehicle. You won’t have to deal with long negotiations or mountains of paperwork, either. And the best part? No additional fees!
Purchasing a used car does bring with it risk in the area of repair work that has to be done. If you had a mechanic look over it before purchase, you’re probably aware of how much it will cost to get the car up and running again. Before purchasing the car, be certain you are aware of exactly what you’re getting and how much it will cost. A car with a bad engine or transmission is probably not the car for you unless you are prepared to spend the money and think that it’s worth your time. Perhaps the car is in good working order but has some minor dents or scratches. Either way, a dealership won’t be there to cover these things for you, so this is an expense you will have to cover yourself.
Pro: A Falling Registration Fee
In most states, the rate of your registration will be based on the make, model and year of your vehicle. You can expect your registration fee to fall dramatically the older your car gets. This is also true of insurance rates.
There are a lot of cons to purchasing a used car, but there are even more pros. Why spend money you don’t have to on a used car that loses over 15% of its value each year you’re driving it around? Not to mention the thousands of dollars you lose driving it off of the lot for the first time. Purchasing a used car is daunting, but making the decision will mean saving money and enjoying a new set of wheels that is all your own. Say goodbye to the mountains of fees and endless piles of paperwork and purchase your used car today.
Jessica Lambert is a freelancer who enjoys writing on a variety of different subjects, including but not limited to: lifestyle, finance, vintage and used cars, artwork, history, baking, and travel. She currently resides in rural Alabama in a lakehouse and spends any free moment with her nose in a book.