There are lots of people these days who find themselves in need of a new vehicle but decide not to go for a brand-new one. Often, this is down to their budget and finances, but there are also various other reasons why people do this. For many, buying a used vehicle that is in good condition seems to be a better option, and some even get help from professionals to find the ideal one.
While getting a brand-new vehicle may seem exciting, it is sometimes not the best route for some people. There are many that decide that a used vehicle is far better suited to their needs because this offers a host of benefits. In this article, we will look at why so many people choose to purchase a used vehicle rather than a brand-new one.
Some of the Reasons
So, why do so many people decide to get a used vehicle rather than opting for a brand-new one? Well, there are many reasons, and this includes:
More Affordable Option
When you consider the cost of buying a brand-new vehicle, a used car is the more affordable option for many people. Those on a budget would often benefits it can also provide a buyer rather buy the perfect used car than settle for a potentially unsuitable brand-new one because it is all they can afford. If you are taking out a loan to purchase a vehicle, you can avoid getting into huge amounts of debt by finding a cheaper used car that fits in with your budget.
Some people are not concerned or fazed by a car being owned by someone else when they purchase a car for themselves. Some buyers can feel uncomfortable or risk adverse to purchasing a used car as they may not trust the way a car may have been driven, maintained or trust it has had a accident free history by the previous owner.This may be due to their lack of knowledge or experience in buying a used car and as a result they may miss out on the benefits of purchasing a quality used car.
Avoiding Depreciation
When people buy brand-new vehicles, it can result in serious depreciation as soon as they drive the vehicle away. This can mean a huge hit on finances when it comes to selling the vehicle for the first time. However, with a used vehicle, someone else has already taken the hit when it comes to depreciation, so you don’t have to. This is one of the key reasons why a lot of people decide to buy a vehicle that is a few years old rather than buying one from brand-new.
Alternatively there are also opportunities to buy “Dealer Demonstrators” or vehicles in the “Private Market” that may have low kilometres and a substantial balance of new car warranty remaining. This also provides the opportunity to take advantage of the initial hit a car suffers in depreciation once it leaves the Dealership floor. In addition, one off on-road costs such as Dealer Delivery and even Luxury Car taxes have already been paid by for and absorbed by the previous owner.
Plenty of Options
Buying a used car means that you can enjoy a wide range of options, which makes it easier to find a vehicle that is perfectly suited to your needs. If you buy brand-new you are limited when it comes to options, and this means you may not be able to get the exact type of vehicle you want due to affordability and availability. With a used car, you can choose vehicles from different years of production, and you can get enjoy greater affordability.
A quality used car can provide a “Smart Buying” opportunity. For the same budget you might have spent on buying a new base model car, you can “up spec” to a higher level used car with more luxury or sporting options and possibly additional safety features. Often higher models have more engine options providing better performance or economy. Likewise, for families a “higher spec” late model used vehicle car may offer 7-8 seater options that otherwise would not be available in a new base model family vehicle.
Range of Ways to Purchase
Buying a car is all about ‘risk management’. You can even buy an new car and get a “lemon”. It happens. Sticking to strict criteria when buying a used car reduces the risk in buying.
Whatever your budget, buy as late year model as possible. It should have a full service history, maintained on time, no smashes, not an Economic Repairable Write-Off and the least number of previous owners as possible. Consider as part of your potential purchase to get an independent “Pre-Purchase Inspection” by a reputable 3rd party service provider such as RACV, NMRA, VACC, REPCO, REDBOOK etc…
One other thing to keep in mind is that you can benefit from a range of ways to purchase your used vehicle. For instance, you can go through a dealership if you want to or you can buy from a private seller who is selling the type of vehicle you want. You can also get help from experts to ensure you get the exact type of vehicle you want at a price that fits in with your budget.
Let Our Experts Help You Find the Right Used Car
If you want to enjoy the many benefits of buying a used car, our experts at My Next Car Buying Advocacy can help. Our car buying package makes it easy to find the perfect used vehicle at an affordable price and with minimal hassle. Our package includes a range of valuable services to make purchasing your used car much easier. So, get in touch with the friendly team today to find out more.
