Buying Guide

What are the Advantages of Used Car

Purchasing a Second-Hand Car

Mostly it is thought that purchasing a second-hand car is economical. They cost much less than
the price of a brand-new car. In reality, there are so many drawbacks that stop you from doing
so. You may not have heard about it. That’s why you must know all the advantages,
and disadvantages before you pay for a pre-owned vehicle.

What are the Disadvantages of Purchasing a Second-Hand Car

  • A disadvantage in purchasing a pre-owned car is costly APR. More APR is charged by the granter
    on second-hand cars, as compared to the new ones. Usually, offers of zero percent APR are
    available on the purchase of a new vehicle.
  • It is not necessary that you get the same car color or style, you want to purchase. There is a
    limitation of these things when you purchase a pre-owned car. It is usually not convenient to
    wait for your desired features. You have to buy what is available at that time.
  • New autos have a variety of warranties, usually of three years or more. Pre-owned cars do not
    have a written guarantee. This can be problematic. So You can do is to increase the
    duration of written guarantee by paying to the company if there is any manufacturer guarantee
    left.
  • Pre-owned car may have serious technical problems. So make sure there is no hidden problem.
    Ask a carmaker to have a complete check of the car before you pay for it.

What are the Advantages of Purchasing a Second-Hand Car

  • Above all is that pre-owned vehicles are economical. The worth of a new car decreases fastly.
    Within the initial three years of purchase, the original price decreases forty to fifty percent. Thus, when you buy a pre-owned car, you save a good amount of money.
  • Some vehicles’ value decreases even more swiftly. You should consider the salvage value. It
    helps you in making a wiser decision. If the salvage value of the car is decreasing rapidly, you should buy a used one.
  • A car’s value is one of the factors that determine insurance costs. With the passage of time, the
    value of car declines. Insurance cost also declines. So this is an additional benefit in purchasing
    a second-hand car.

Conclusion

It’s beneficial to purchase a two to four years old pre-owned car with some manufacturing
warranty so that you can increase its duration. That’s the only way to buy an economical and
problem-free car.

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saeed rana

I was the executive vice president of the General Insurance Company. With that I also mentor students to help them find and apply for international scholarships each year, Due to extensive practice in vehicle insurance, their claims, and all sorts of interest in vehicles; today it became my passion to write research articles on vehicles.

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