If your objective is saving money and owning the latest model or premium brand then buying second hand cars instead of new ones can save you a lot of money. Nowadays, financing for used vehicles is much easier especially when you’ve decided to buy from an online platform. The used car market is growing in leaps and bounds. In certain cities like Delhi and Kolkata people are buying used cars more than new cars. It is projected that the market of the used car will cross the Rs. 50,000 Crore by 2022. Sellers ensure you get the right model with all the safety features intact. No matter, how you perceive things, buying pre-owned cars is always a smarter choice.
Here are some reasons and used car buyer guide that defines why second-hand car are always a better option to buy: New cars depreciate instantly: If you want to decide whether to buy used or new cars, remember that when you buy a new car, it reduces in value instantly. Some carmakers have a better value compared to others and new cars last longer than what they used to be. New cars can lose almost 30% of their value in the first year. Buying new cars cannot qualify for good investments if you lose out a lot of money.
Get More Value For Your Money When You Buy a Used Car:
The depreciation of new cars can be a boon if you are a used car shopper. The budget for new cars may give you the base trim of your preferred car models, however, when you shop for a car model of a few years back then you might be able to afford a top trim.
Minimize Insurance Costs:
A major factor to decide the car insurance cost is the car’s value. As used cars have less value compared to new cars, the insurance cost will be less. You can save more money as a few elements of car insurance might be dropped.
Used Cars Have Data:
Used car at Droom has all the data, which can prove the reliability of the vehicle. Carmakers redesign the car models every 5-7 years. The redesigned car may include new transmission, engine, suspension, or electronics. The data of used cars is there at the fingertips. You can track the value of pre-owned cars easily. You can find out how much you should pay for specific models, makes, and trims.
Reduce Your Registration Expenses:
This rule is not applicable in all states, however, many states base the registration fees on the value and age of the car. Cars cost less are charged lower registration fees in those states, which use the system.
Second Hand Cars Last Longer:
The cars last longer. Many carmakers have car models that go well and some even offer warranties. It is always a good idea to have the used cars get inspected by car mechanics, however, 100,000 miles and more cannot be not a major deterrent.
Car History Records:
If the reliability of the car is not adequate, then easy accessibility of car history reports can do the job. Different companies provide vehicle histories so that you can avoid pitfalls such as salvaged titles, fraud, and flood-0damagd cars. The only caveat is that the car issues should be properly reported so that it reflects on the report. It is therefore not a substitute to get inspected by a mechanic.
You can save a lot of money if you buy a used car. The used car price is less compared to the price of a new car. New cars depreciate quickly.
The trucks and cars of today such as vans and SUVs last longer. According to a prediction, the operation of 12-year old cars shall increase by 15%. Modern cars can last longer. It means you can save a lot of money and have a long service life from used cars.
Financing Options are Favourable:
When you buy a used car, banks offer favourable financing options. Carmakers offer better interest rates on the loan amount. Online platforms like Droom makes your used car buying experience easier and faster with the right financing and documentation.
Above mentioned all the reasons to buy used car, one should follow a complete used car buyer guide to make an informed buying decision. You can get lots of benefits when you buy pre-owned cars. You can save your hard-earned and get peace of mind when you choose second hand cars instead of new cars. Choices are opulent, the market is showing steady growth, and financiers are available in your support.