Globally, it’s estimated that between 74 and 78 million vehicles are sold every year. Purchasing a vehicle means making the choice between buying new or used. If you’re in the market, then you should know that there are particular advantages to buying used vehicles over new ones. Used vehicles have the advantage of choice, cost savings, quality assurance, and a lower environmental impact. We’re going through each of these benefits in more detail below so you can make an informed purchase. Keep reading to learn more.
1. Choice in Types of Vehicles
In 2020, there were 43 new car models for sale in the US. If you’re looking to buy new, you’re limited to around that number of options every year.
The types of vehicles available on the used market are significantly larger than that. There are literally thousands of used cars to choose from. Whether you’re looking for a rare model, something fancy, or a relatively new family-friendly vehicle, you’ll find it on the used car market.
2. Cost Savings When Buying Used Vehicles
It’s no secret that used cars have lower price tags than new cars. So while you may not be able to afford the newest model of the Ford F-150 you’ve been coveting, buying a used ford car might be an option.
Depending on where you’re registering your vehicle, buying used vehicles may save you on registration fees, too. Some states charge a registration fee based on the transaction price. Meaning that the lower the price tag, the less you pay to register the vehicle.
3. Insurance Savings on Used vs. New Vehicles
Buying used vehicles might also lead to savings on your insurance. Many insurance companies base your rates on the value of your vehicle.
If your car is worth a lot of money, that means your insurance company has to pay big bucks should something happen, which means you pay higher rates. Because used vehicles don’t hold as much value as new vehicles, you pay lower insurance rates.
4. Quality Assurance
You don’t have to worry about quality when buying used vehicles. If you purchase a Certified Pre-Owned vehicle, it’s been inspected, refurbished, and certified by the manufacturer, so you know you’re getting a high-quality vehicle.
If you’re not purchasing a Certified Pre-Owned vehicle, there are other ways to check quality. You can ask for a vehicle history report that will tell you things like whether the vehicle was ever declared a total loss.
5. Environmental Considerations
Most people don’t realize that buying a used car is actually better for the environment than buying a new one. That’s because the majority of the carbon emissions that are produced by a car are produced while the vehicle is produced and shipped.
By purchasing a used car, you’re making a sustainable choice that’s better for the environment.
More of the Best Car Advice
Buying used vehicles has a number of advantages. Those advantages include cost savings, lower insurance rates, and more choice. You can purchase a high-quality used vehicle and do so with the knowledge that you’re reducing your impact on the environment, too.
If you’re still unsure, read through our blog for some of the best car advice out there.