he idea of a pre-owned car may sound a bit weird to those who are not used to the idea. But in reality, it has been around for a while. In the 1980s, American cars were designed and built to be driven until they met an end. Instead, people bought them only after they were almost run-down, mostly because of the Mikey Thomas ads in the newspaper. That was back in the day. The car lots were very narrow then and you were lucky to get a decent car.
But along came Lincoln and plenty of other cars that competed for customers. The idea of buying a pre-owned car is something that businessmen have been doing ever since Henry Ford introduced the Model T in 1908. It was a cheaper and better running car then the earlier models. The car manufacturers pulled the same trick with cars throughout the decades.
Most people are scratching their heads thinking about why this practice is advantageous to the buyer, and here are a few thoughts to get your thinking brain going:
The normal rate of depreciation for a new car is 20% to 30% once it leaves the lot. A pre-owned car, depending on the model, can be up to 30% cheaper than the same model bought new only 10 years ago. That is a significant difference in price.
With the recent economic uncertainty, it makes sense to buy a car that has been owned, but not used by many people yet. They are most likely to be bought because they are certified pre-owned. This is good for the buyer because he does not have to take the hit on depreciation that others may experience.
2. peace of mind:
When you buy a car, it is nice to know that you are part of a family unit, and that you are supported financially in the event that you have problems. When you buy a used car, you may be on your own. This opens up the mind of the buyer because he or she does not have to worry about taking care of the car expenses, such oil changes, gas and other limtimates. The person who buys a new car today is very lucky. To get a feel for what that will be like, just look at how much people are complaining about the price of gas, or other such expenses when they go to buy a new car.
3. Good looks:
The most attractive thing about a car is its looks. The second most attractive thing is the reputation of the vehicle. Buying a car instantly boosts the reputation, especially if it is a used car. Looking at the more positive side of things, would you prefer an ugly car or one that is expensive to maintain or service as new cars?
Other than reputation, the looks of a car also effects its value. Thus, if you see a particular car on the road that is very attractive, it is a sure sign of its high value. Beautiful cars sell for much more than not beautiful ones.
The other benefit of buying a car that depreciates fast is the cost of maintenance and repair. When a new car is driven off the lot, even if you buy one for less, if you need to repair anything, you will likely have to invest much more than if you had bought car one with a reputation and great looks.
Buying a car is a major purchase that needs careful planning. This is true whether you are buying a brand-new or a used car. Whatever decision you make, it is important to think about your long-term financial goal. There are many ways to achieve this, but if you can see that buying a pre-owned car is the best decision for you, do not hesitate to change your mind, and consider why it may not be such a good idea to buy a new car after all.