The Top 5 Benefits of Buying a Used Car

A purchase as big as a car can be a daunting experience to undertake. Between financing, insurance, and maintenance costs, the possibilities seem limitless. The first thing many people do before starting this process is look at new cars because they feel that since they have not bought a car in 3-5 years, their current ride isn't going to cut it anymore. After doing some research, though, most people discover that used cars are just as good if not better than new cars. Hudson Honda will highlight some benefits of buying used cars in this blog post! 

Best Value for Money

When buying a car, you want to get the best value for your money. Never go into any purchase blindly! A great way of finding out what kind of value you are getting when purchasing something is by looking at the average prices of the product. If you buy a used vehicle, it is going to be so much cheaper than a new one, why? Because the car's value depreciates as soon as you drive it off the lot! It can lose anywhere from 15-30% of its original value in just the first year and continues to decrease each year after that. Between 3-5 years, most cars will have lost 50%+ of their market value; this means about half of what amount they originally sold for not more than five years ago! That is some serious savings right there!

Availability

With such a large variety of makes and models out on the roads nowadays, it would only make sense that there are tons of used vehicles available to choose from. Many websites can help you search for the right used car you're looking for at reasonable prices.

Affordability 

So your budget is low, no problem! Of course, there may be some limits, but buying a cheaper, used car doesn't mean you have to do without any of the luxuries a new vehicle has to offer. If you need a spoiler, alloy wheels, or a sunroof, for instance, you can always install those yourself at a fraction of the cost it would be if they came standard on a new car.

Choices 

There are used cars for all budgets in every make, model, and color imaginable. So if there's a particular car you've been admiring for quite some time, but it's the high price tag that has stopped you from purchasing it, then look at buying a used vehicle.

Selling Price 

The main reason why people opt to buy used instead of new is because they are afraid their money would be 'locked in' by paying the total purchase price upfront. We all know how expensive new cars can be nowadays, so if you need to borrow money to finance your purchase having access to your car equity comes in very handy!