So, you’re in the market for a new car. Or, perhaps you haven’t made up your mind between a new and used. Well, that’s certainly understandable. It’s a big decision to make, and one that depends a great deal on your personal situation and goals. As a consumer, you’re probably teetering back and forth on whether it’s better to buy a new or Pre-Owned Cars in Lynnwood WA. Take a look at the following “used” car advantages and see if it helps make up the mind.
LESS MONEY
Looking at all used cars versus all new cars, consumers will find used car prices to be almost half of what they’d pay for a new car. Granted, that’s not to say one could get a 2018 used BMW for half the price of a 2019 new one, but it is to say one can often find a used version of the car for half the money. This allows buyers to pay off the car in a quicker turnaround, saving on financing and the total amount spent.
ABOUT DEPRECIATION
A common complaint heard from new car buyers surrounds how quickly the value of a new car drops, as in, as soon as they leave the dealership! It’s estimated that a new car drops in value by approximately 11% from the time it’s on the parking lot at the dealership until it’s driven into the garage. This means if you paid 20k for that shinny, new sedan, once you get home, it’s only worth about $17,800. This downward spiral will continue for months/years! However, with Pre-Owned Cars in Lynnwood WA, one can expect that the majority of the depreciation has already happened.
LOWER INSURANCE
You’ve probably heard about GAP insurance, but never really knew what it means. Well, for those who have an accident in a new car, insurance pays off what the car is valued at or worth at the time of the accident. It doesn’t matter how much you’ve borrowed or still owe on the car. GAP insurance covers this difference. To have this luxury, however, you must pay more on your insurance premium. This GAP insurance is rarely needed when you purchase a used car.
If you’re convinced and ready to purchase a used, but new to you car, consider for the transaction. Take a look at all the models they have to from.
