Two Reasons to Buy a Used Car Instead of a New One

If you need to buy a car, it might be better to opt for a used one instead of a new one. Read on to find out why.

It's not usually worth spending a lot of money on a depreciating asset

Some things are worth investing in, as their value is likely to increase over time. Stocks and bonds, artwork and land are just a few examples of purchases that can rise in value over the course of several years. However, this is not the case for vehicles. Virtually all cars are depreciating assets, whose value rapidly declines from the moment they are first driven (the only exception to this are extremely well-maintained antique classic cars which are rarely, if ever, driven on public roads).

As such, if you spend thousands upon thousands of dollars on a brand-new vehicle, you will never be able to recoup anything close to your initial costs when you eventually trade it in or sell it on in a few years' time (even if you have it serviced regularly, never get into an accident whilst driving it and keep it in immaculate condition).

Given this, unless you are willing and can afford to lose a significant amount of money, buying a new car is not usually a wise investment.

It could enable you to get a high-quality vehicle from a world-class car manufacturer

It's a common misconception that new vehicles are safer and perform better on the road than used cars. In reality, this is not always the case.

For example, you could potentially decide to purchase a brand-new, mid-range car that doesn't come with any special safety features or have any components that are known to improve road performance.

On the other hand, for the same amount of money, you could instead buy a used, higher-end vehicle made by a top automotive manufacturer that comes with a plethora of features that make it safer to drive (such as, for instance, a collision alert system or automatic emergency braking technology) and that improve its road performance (like a dual-clutch transmission, for example).

In short, used cars often provide better value for money than new ones (provided, of course, you purchase the vehicle from a reputable business or private seller who is able to provide detailed information about the car's history and can confirm that it is in good working order). Contact a dealership in your area to learn more about purchasing used cars.