When it comes to upgrading your ride, you always have the option of buying brand new or buying used. Before making your decision, it’s important to understand the true differences between the two. Unfortunately, there are many false misconceptions out there about used vehicles that we’re going to debunk below.
1- They’re in Bad Shape
Probably the biggest misconception about used vehicles is that they’re in bad shape. People believe that others traded them in because they had problems with the car. The truth is that many used vehicles are in excellent shape. People simply traded them in because they upgraded their vehicles every couple of years. You can easily get a used car that is a couple of years old and only had one driver before you. In fact, many dealerships will offer certified pre-owned warranty coverage.
2- You’ll Have to Pay Cash for It
This simply isn’t true. You can buy a used car from many vehicle dealerships. Even most lenders will provide you with an auto loan if you purchase a used vehicle through a private sale. The idea that you have to physically pay cash out of your pocket for a used vehicle is simply not an accurate one. You have the same options of using a loan or paying cash, if you want to, for any used car that you may want to own.
3- New is Better Than Used
It’s very easy to get caught up in the thinking that shiny new is much better than used. This isn’t always the case for a couple of reasons. First, new vehicles don’t always have their defects known. You may own a brand-new vehicle for a couple of months and end up dealing with a defect. When you invest in a used vehicle, you get the luxury of others driving it beforehand and finding the issues. In fact, you can use online vin researchers to determine if there were any recalls on a prospective vehicle before you buy it. Second, the value of a new vehicle drops significantly in its first year. When you opt to buy it used, you’ll lose less value over time.
4- There’s No Resale Value
Another common myth about buying a used vehicle is that it won’t have a resale value. This simply isn’t the case. If you purchase a used vehicle and decide to sell it a few years later, it’s still going to have value. In fact, with the proper maintenance and care, you’ll likely find that you can actually resell your used vehicle for close to its purchase price or even more, depending on the specific vehicle demands on the market.
Contrary to what you may have heard about used vehicles, they’re a great investment for most people. They not only keep much of their resale value after their purchase, but they’re cheaper, and you can weed out any defective models with ease. If you’re in the market for a new car, SUV, or truck, then consider investing in a used one instead.
