How You Directly Benefit from Buying a Used Car

How You Directly Benefit from Buying a Used Car

- in Used Car
307
Comments Off on How You Directly Benefit from Buying a Used Car

In the past, car owners gained little more than a lower price tag by choosing to buy a used car. They often had to make a rather risky investment in return for that lower price, as they knew the chance existed that the used car might prove unreliable. However, cars built today are more reliable than ever before and last years longer than previous models, even when not well maintained. Therefore, buying used cars has not only become much safer and less stressful, so much so that now car owners often choose used cars over new cars much of the time. By educating yourself about the kind of car you want and making an informed choice, you stand to benefit in more than one way by buying a used car.

Sustainability

From a sustainability perspective, many buyers find that it makes more sense to buy a used car with good fuel economy over a new one. The building and disposal of an automobile is proven to have a significant environmental impact, and buyers can do their part to reduce that impact by choosing a used car. BMW approved used cars provide an especially long list of benefits due to their high quality and reliability on the road, even after years of regular use.

Studies performed within the automotive industry found that between 12 and 28 percent of carbon dioxide emissions generated during a car’s life cycle occurred during manufacturing and initial shipment. Each time buyers choose to purchase a used car over a new one, they reduce the number of cars passing through these phases and also reduce the number of vehicles headed to the scrap heap. In short, by buying a used car, you can not only lower your buying price by thousands, but can also reduce your mark on the environment.

Value

One of the biggest benefits associated with the purchase of a used car is the value. Cars lose value the moment they leave the dealership lot, with the value decreasing by up to fifteen percent, depending on the vehicle. After just four years, the average car might retain less than half its original value. However, the depreciation curve is far slower and less steep after that point. For this reason, thousands of car buyers choose used cars to ensure they can resell the car for about the same value later on.

To make the most cost-effective and reliable choice, consider used cars between three and four years of age. This way, you ensure that many years of dependable service remain in the vehicle and allow yourself to resell it with little or no loss in equity. However, once cars reach six years of age, depreciation curves increase again, and cars of that age are considered less reliable. Therefore, you do yourself some good by paying attention to the age of your car and its value as you increase the number of kilometres driving on it.

Used cars also cost less to insure, as used vehicles have less value than new models. Insurance companies are more willing to offer great insurance at a reduced price if they have less to spend if you were to get into an accident on the road. In short, you stand to save money both directly and indirectly by choosing a used car.

About the author