Benefits of Buying Used Cars in Rochester NY Over Brand New Ones

Gone are the days when buying a used car was seen as a bad thing, or worse – a sign of poverty. Now, buying a used car can mean that you simply want to get the best vehicle for your money’s worth, and that the best car doesn’t need to be a new one.

Here, we list some of the benefits of buying used cars over brand new ones for those of you who are considering which one is best for your needs and budget:

1. Reduced Purchase Cost

This is the most significant benefit of buying used cars not just here in Rochester, NY, but also all over the world. New cars can be quite pricey when compared with used ones, but there is not much difference in their use. New cars and old cars perform the same basic function - as a means of transportation.

The difference in the cost of purchasing a new car versus a used one can range from about 25 – 50%. The good news is that if you choose correctly, you can get a used vehicle that still works well for less the price of a brand new car.

Another point to consider is the negotiation and bargaining aspect of buying a vehicle. You may find that when purchasing a used car, the negotiation process is usually more open than when you want to buy a new unit. You could even trade-in your old car, in exchange for another vehicle that is still in good condition.

2. Reduced Depreciation Rate

This is not a well-known fact, but new vehicles tend to depreciate faster than used cars: within a year, a brand new car can lose 10-20% of its original value. On the other hand, used cars have smaller drop-offs in value during the first year. Also, if you were to sell a newly bought car, the price would be far lower as compared to its original price. This is because the unit has become a used car the moment you bought it and drove it home.

Buying a used car does not need to mean getting an ugly or overused used unit. Most people sell their used cars two to five years after purchasing it, while car dealers recondition trade-in cars before putting them up for sale again. What this means for you as a buyer is that you can buy a used car that is still in good condition and looks presentable.

3. Reduction in Incidental Expenses

The incidental costs associated with the purchase of a new vehicle are considerably higher than that of a used car. The insurance cost is usually the most significant aspect of this. Because there is a high value placed on new cars, the insurance premium for these vehicles are also much higher.

Another example of an incidental expense is the car ownership registration fee. Since the value of the vehicle is high in the case of new cars, the registration cost is also relatively high, while the cost of registration for used cars is lower because of their relatively lower value.

Add-on features are also seen as one of the reasons why new cars are priced high. While there are people who are willing to shell out more cash to get their hands on those new features, individuals who do not have a need for those additional features can opt to purchase a used car that has all the essential features they are looking for.

4. Warranty Options

If you are hesitant to buy used cars because of the impression that those vehicles do not come with a warranty, worry not because there are car owners that sell their vehicles within a two or three years of buying them.

This means that the car may still have a warranty by the time you purchase it. Also, most used car dealers add a coverage period to a used car when purchased. You just need to make inquiries about it from the dealership company before buying it.

5. Wider Choice Range

Given that purchasing used cars usually cost less, you have a wider choice range as compared to looking for new cars that can be quite limiting because of the higher price. Even if you see a brand new car that suits your preference, it may not make sense to buy it because of restrictions in your budget.

Conclusion

The narrative has changed; purchasing used cars is no longer considered a bad move. In fact, there are several benefits that come with it, as we have highlighted above. If you do purchase a used car you'll have to get rid of the old one. If your car is really old and just a junker you'll need to find a place that will pay cash for your clunker. Many companies exist that offer such a service you'll just have to find one in your area. You can buy a used car knowing that you are getting your money’s worth, as long as you buy from a trusted and verified dealer or dealership company.