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When you walk into a car showroom and look at rows upon rows of gleaming vehicles, it can be tempting to splurge and drive home in a model that will make heads turn. It will be smarter, though, if you resist the urge and think things over from the practical point of view. There are two questions you should ask yourself:
• Do I need a vehicle to get around or to impress people?
• Am I making a financially sensible decision?
You might discover that it makes more sense to buy used cars. Amherst car dealerships can, moreover, offer you an extensive range of choices in models. Here are more reasons why buying a used car is a smarter decision:
You can avoid the steep depreciation of brand-new vehicles
Brand-new vehicles can be expensive, but you will rarely recover the amount you spent on them. They start to depreciate from day one, and the value will decrease further as they acquire more mileage. And if like most car buyers, you have taken an auto loan to finance the purchase, you will find yourself making regular payments, including interest, on something that is not going to bring you any profit in the future. As investments go, it is a poor one.
On the other hand, used cars will depreciate too, but that will not matter as much as they are not as expensive. You will be able to pay off the loan quickly and use your money for other needs.
You can get a better car for your budget
Instead of stretching your budget on an entry-level car, you can get more out of your money by buying a fancier used model with a better set of features. You can also avoid having to pay many of the additional and hidden fees that car manufacturers charge buyers for brand-new vehicles. For instance, you may not need to pay shipping charges on the used vehicle. You can save the money or use it to make customized luxury upgrades or other alternations to the used car.
You can count on a sound purchase with a certified pre-owned vehicle
A certified pre-owned vehicle has been checked and endorsed by the brand manufacturer. So you can be sure that you are buying a non-defective car of established standards. Additionally, a certified pre-owned vehicle comes with a warranty that may be almost as good as the one you would get for a new model. You may also be able to get a lower interest rate on the vehicle.
You will have lower insurance costs
The cost of car insurance is directly dependent on the value of the car. Since used cars have lower purchase prices, they will also generally have lower insurance costs. You also be able to cancel out certain insurance features that may matter with a new car, but not so much with a used car.
You will have lower annual car registration fees
As in the case of car insurance, the amount of fees you must pay for the annual registration of the vehicle is dependent on its purchase price, year, and model. The fee rate is higher for brand-new cars and especially for the first three years after their manufacture. So, when you buy a used car that is three years old or older at a lower price, you will have to pay a lesser car registration fee.
If there ever was a stigma in buying used cars Amherst, Amherst residents will find that is no longer the case. Since many used cars are available for sale in excellent, roadworthy condition, getting one can even be considered a bargain. You will have a vehicle that meets your requirements, and you won’t need to break the bank to acquire full ownership of it. You will have to shoulder the same gas and maintenance expenses as you would for a new car, and you will be able to get around in it just as comfortably.
So, why even think of paying twice or thrice the price for a new car? Be smart and purchase a used car. It will be a financially sound decision, and it will benefit you more in the long run.
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