Deciding to acquire a used car over a new one is a smart move that can save thousands of dollars in depreciation costs, taxes, and dealer fees.
To help you decide, read on to learn about the pros and cons of buying a new or used vehicle.
Service and Warranty
For your peace of mind, the ball is usually on the new owner’s court. New cars typically come with an extensive manufacturer’s warranty that covers them from one to five years. They also tend to worry less about upcoming repairs or mechanical issues.
However, automakers are starting to offer “certified used cars.” These vehicles, usually not are leased, have been thoroughly inspected and then certified by the manufacturer with a new warranty. In addition, if the used car is sold but does not meet its original warranty period or mileage, that warranty applies to the new owner.
If we talk about direct price, then a used car will always be cheaper. Vehicles depreciate the most during the first three years on the road, meaning that this initial impact on the value of a new car will take a hit.
In addition to depreciation, new car owners also have to pay import duties, manufacturer’s shipping costs, customization costs, and taxes. Some of these costs, if any, are passed on to the next buyer.
Unfortunately, used cars don’t have many customization options. When ordering a new vehicle from the manufacturer, you can choose its interior and exterior color, options and characteristics.
However, you can customize any vehicle for a reasonable price, from changing the body color to airbrushing your name on the side, which can certainly be done.
Automakers have resisted low to zero per cent funding options while used cars in hollywood fl are almost always cheaper than new models. By grooming car buyers without interest, new car dealers are disrupting the used car market.
If you purchase a used car, you can pay in cash or get financing from a bank or dealer. Whether you use a line of credit or a car loan, you will have to pay interest on this loan.
How to find used car auctions
Call your local police station to enquire for the next auction
You can start by calling your local police station and asking them when they have their next auction. Most of these vehicles are those that the department no longer uses because they have purchased newer vehicles or because they have excessive mileage and are worn out.
Call local towing stations
You can then call local towing stations in your city and ask if there are any auctions planned. Most of these vehicles had an excessive amount of unpaid parking and transport tickets or those towed, and their owners could not afford towing and storage, which are known to be quite expensive.
Take a list of car auctions
You can buy a list of car auctions that will tell you about all the auctions taking place in your city and across the country. This is the best option because they will provide you with detailed information on numerous used car auction sites in minutes. You only get a few locations when you call the above methods.
Check local newspaper
If you’re out of luck with the police station and towing yards, you can check out used car auctions in your local newspaper. Usually, they are placed in the “announcements” section with time, date and place.