Nowadays, a car is an essential part of an adult’s life as it can be used for easy transportation to work or for travelling. Whatever your purpose is when acquiring a car, you have a choice to purchase a new or used vehicle. There are a lot of car dealers in Canandaigua NY, such as Vision Hyundai Canandaigua, that offer new or pre-owned cars, as well as car accessories.
While it may seem like people would usually opt to buy a new car, choosing a used car in Canandaigua NY has its benefits, too. Here are some of the benefits of purchasing a pre-owned vehicle:
1) Cheaper Price
If you have a limited budget for purchasing a car, used cars can come handy. Since cars depreciate over time, an old car has a lower price from the time it was initially purchased.
For instance, a brand-new vehicle may cost you 60,000 USD, but a used car may have a price of 30,000 USD. No matter how old the car is, it is much cheaper than its original cost. While an original buyer loses money over a brand-new vehicle as time passes by, you can save as much when you opt for a used car.
Moreover, you can buy cheap used cars in good condition as long as you do the following:
- Get the VIN or Vehicle Identification Number. The VIN is vital so you can find the history report of the car you intend to buy. The history report can help you be aware of recall checks, actual mileage, number of previous owners, flood damages, or accidents the vehicle was involved in. You must verify that the VIN is consistent on all documents and the car’s body panels, driver side’s windshield, title documents, history reports, and service records. Inconsistent VIN may be a red flag for a stolen car. You can use sites like NCIB, iSeeCars, VehicleHistory, CARFAX, Autocheck, and other online VIN verification sites to check the car’s history or details.
- Let an independent mechanic inspect the car. Never rely on the seller’s words, or the seller’s salesperson or representative’s assurance that the vehicle is in good shape. Instead, you can ask someone whom you personally know or is an expert about cars to inspect the one you intend to buy. Especially if you’re not a car expert, your mechanic can check whether the vehicle has hidden damages or if it is still working properly.
- Use exterior flaws to haggle the price. Although you may spend a little on the exterior flaws of a used car, the hail damage, peeling paint, nicks, or dents can be your edge to bargain for a lower price on a used car. As long as the engine or what’s under the hood is in good condition, these exterior flaws won’t affect the condition of the used car. However, never buy a car with a bald tire as tires can be expensive.
2) Insurance Rates
Aside from lower prices for used cars, the insurance rate also becomes less expensive. For new vehicles, you are required to pay for the cost of gap insurance, comprehensive, and collision coverage, especially when a new car is bought via a lease or a loan.
Comprehensive and collision coverage protects the physical properties of the vehicle in case of accidents. Especially when the new car is worth more than 4,000 USD, insurance is required. Gap insurance helps in covering the difference from the depreciated value of your vehicle. But for used cars, these types of insurance are not required.
Although used cars can have cheaper insurance, the insurance rates will vary based on the insurance company of your choice, level of coverage, model and make of the vehicle, and the driving history of the car. Moreover, state-of-the-art features of a car can also affect the rate of insurance.
To avoid buying used cars that have a higher insurance rate, you might want to take the following vehicles off your list:
- Sports car – Insurance cost is higher for these cars because younger drivers prefer these cars, and younger drivers are more likely to be in accidents.
- Electric vehicles – Repair costs and price tags are higher.
- Luxury cars – Replacements are pricier than their total
Conclusion
Owning a car doesn’t mean buying a new car. Purchasing used cars is also a good option because of the savings you can earn compared to when you spend for a new car. Especially when you’re on a tight budget, buying used cars means you don’t have to shell out a large amount of money. Although you have to be wary when purchasing used cars because you might end up spending more for its maintenance, you can acquire a good one if you know what to look for in a vehicle.
