The Depreciation Advantage: The Financial Benefits of Purchasing Used car
The dream of owning a car is now common among people.However, when it comes to buying, choosing a pre-owned car can save a considerable sum of money, offer more features and even provide greater flexibility in terms of budget and vehicle choice among others. This article shall deeply dive into all the irresistible benefits of buying a used car.
- Keep Your Pocket Safe
- Experience Lower Depreciation
- Get Guaranteed Peace of Mind
- Claim Cheaper Insurance
- Myth 5: Financing a Used Car Is Difficult
- Choose from a Bouquet of Choices
- Get Certified Cars
- Say No to Additional Costs
- Say No to Additional Costs
The used car system is where you can pick up an affordable vehicle rather than purchasing a new one. Moreover, you can opt for a more featured variant or even a car from a higher segment and price point, within your budget..
You can easily pay for your pre-owned vehicle in cash if you prefer. Banks are always happy to loan you the sum required to buy a used car at easy rates of interest and repayment. By making a substantial down payment, you can reduce the EMI amount and the loan tenure, thereby enhancing your financial security. There are reliable used car platforms in the market today that not only offer you a trusted way of buying a car but also provide easy financing options. To sum up, buying a used car gives you better value for money and allows you to dream bigger.
A new car starts losing its value the moment you drive off from the showroom. The first year of ownership brings you up to a 30% hit in its cost. It’s not as if a used car does not depreciate but the loss is significantly less than if you purchase it brand new. If you prefer to upgrade your car often, a used car is the right choice as it provides greater flexibility, in addition to that you can experience a much lower value depreciation compared to a new car.
Ever thought of your pre-owned ride breaking down? Well,nothing much happens, because most of the pre-owned cars are still covered under factory warranty or you can take advantage of the extended warranty offered by all car manufacturers across the spectrum. Even if that is not an option, most second-hand car dealerships, especially certified pre-owned car showrooms like Heinz offer a variety of warranty options to cover used vehicles.
The premium of your car insurance is the higher the cost the more the premium. It is heavily biased towards the value of your ride along with factors like your age. This cost of ownership goes down significantly when buying a pre-owned vehicle because of the drop in the car’s value.Also, you might find that you just need to reinsure when it lapses as the insurance on your ride is already paid by the previous owner. So an already cheap buy gets an additional cost benefit to factor in.
Another false belief is that securing financing for a used car is much harder compared to financing a new car. However, many banks and financial institutions offer competitive interest rates and loan terms for used vehicles. Reputable dealers offering best used cars for sale in Kerala often have established relationships with lenders, making it easier to finance a used vehicle.
Today, the manufacturers and showrooms provide limited editions of new models which saddens the car lovers. In the second-hand car markets, you could, for example, buy a used diesel car from a company that has stopped the manufacture and sales of that variant in its showrooms. If you don’t appreciate the looks of the new model you can easily pick up the prior model whose looks you’ve been dreaming about. The range of second-hand cars available is astonishing compared to the limited choices in new cars.
Years back people were scared of the lack of quality certification, transparency and warranty options provided in used cars. But, with the emergence of best-used car dealers in Kerala like Heinz in the market, this misconception no longer exists. Today, anything and everything you want to know about a used car is revealed to you right at the consideration stage.
A car’s ownership, accident and service history are readily available. Thus, the purchase of a used car today, thus, enables you to do a deep dive into the car’s past and provides a roadmap to its performance in the future.
Never get astonished when you go through the invoice as there will be additional charges for the Teflon and ceramic coating, seat covers with other accessories, extended warranty, freight and handling charges, registration and number plate. These costs are added on and visible only when you cross-check the invoice. A pre-owned car comes with all the above factored into the one-time upfront cost saving you thousands of your hard-earned rupees. You simply cannot go over budget with a used car.
As the saying goes, “Old is gold,” so don’t overlook the value of considering second-hand cars. Always remember that second-hand vehicles sell more than twice the number of new cars. You could go for that aspirational buy rather than one that fits your budget. A pre-owned car offers a range of benefits that are sure to appeal to you and positively impact your life. But make sure you opt for used cars from the best pre-owned cars in Kerala.