Benefits to Purchasing a Pre-Owned Vehicle

Are you looking for an excellent deal on a stand-out vehicle? Buying a pre-owned car can be a great way to find your dream car for a price that doesn’t break the bank. In fact, by buying a used car you might even find a version of a car that would be outside your budget if it was new, giving you access to brilliant new possibilities. To give you a better idea of why buying a pre-owned vehicle can be a great idea, our team here at Mercedes-Benz of Tyler has put together a guide of eight excellent reason to go used.

Score a Great Price

It’s no secret that a brand new car fresh off the assembly line can be pricey. That’s one of the primary reasons why buying a used vehicle can instead can be a fantastic move. You may be able to find a used version of your ideal make and model that is much cheaper than the newest model on the dealership lot. When searching for a used car, keep an eye on the mileage and year of manufacture. The older and higher mileage a car is, the cheaper it may be when you buy it used.

Avoid Depreciation

Depreciation is the process of a car losing value as it ages. While older cars are generally worth less overall, it’s important to realize that cars don’t depreciate at a steady rate. In fact, the moment you drive a brand new car off a dealership lot, it depreciates in value by about 20%. In the first year of ownership, the car’s value is likely to continue to decline by about another 10%. This means that by buying a used car that is even just one year old, you can avoid losing up to 30% of your car’s value.

Enjoy More Affordable Insurance

Car insurance is a sneaky cost that not everyone thinks about when first comparing vehicle prices, but the truth is it can end up being a major factor in your yearly car payments. To determine the insurance cost of a vehicle, insurance providers are likely to consider a variety of factors, including your age, location, and driving history. They also consider the car’s value, based on its age and mileage. Insurance companies generally consider older or higher mileage cars to be worth less than a new car, which translates to lower insurance costs for you as the driver.

Bypass Dealership Fees

While you’re likely to pay some extra fees beyond the sticker price for any vehicle, new or used, buying a pre-owned car can help you escape some of the most costly extra fees you might encounter at a dealership. For example, you’ll rarely have to pay for a shipping or handling fee for a used car, because it’s probably already at the used car lot where you’re going to pick it up. You can also look forward to a lower overall sales tax because the total price of the car is usually lower than a new vehicle.

Fewer Loan Fees

When you find a good deal on a used car, it can save you money both up front and in the long run because it can help you minimize your loan payments. If you choose to finance your purchase with loan payments, the cheaper price of a used car will help ensure that you pay less in loans and that you pay the vehicle off more quickly. This can help you minimize long-term interest payments and ensure you’re debt-free more quickly. You can also enjoy the sight of a lower monthly payment on your credit card bill.

More Vehicle Options

When you look for a used car, you can shop for almost any type of vehicle imaginable. You can browse pre-owned cars, SUVs, and trucks, all with different ages, mileages, and histories while you determine what type of car is best for your needs. What’s more, vehicles that may previously have been outside of our budget as a new model may now be attainable. This means that even if your dream car is well over-budget, buying a used version of that car might just give you the chance to still live out that dream.

Better Bang For Your Buck

Buying a used car can also be a great way to access special features that might be unaffordable in a new car. For example, getting a sporty trim often translates to a higher MSRP when you buy a new car. You might, however, find a special edition or trim of your favorite car that’s within your budget when you shop used. You can also get more for your money by buying a high-end car that features like a great audio system or high-end safety features but is a great price because it is a few years old.

Get More Information

When you buy a new car from a dealership, you get car specs from the manufacturer, and that is pretty much all. When you buy a used car, on the other hand, you get information about how the car has performed since its original purchase. You can ask the seller for a CARFAX report that details every past owner, service visit, or collision. Here at Mercedes-Benz of Tyler, we also offer certified pre-owned vehicles. These are cars that our experts have reviewed to guarantee their excellence, and which come with a benefits and warrantee package for extra peace of mind.

We hope that this list of benefits has helped clarify why it can be a great deal to go in on a pre-owned vehicle. Are you ready to pull the trigger? You can check out our selection of incredible pre-owned vehicles, and even review our collection of used cars under $20k if you’re on a strict budget. If you have any questions, don’t hesitate to contact us or drop by our dealership location. We look forward to helping you get out on the road this year.

Hand on steering wheel by whykei is licensed with Unsplash License