In 2016, 41 million used carswere bought in the U.S. Such statistics indicate the soaring popularity of used cars in the market today. While many people argue that a new car affords you some degree of satisfaction, the good news is that used cars can save you money, and afford you the same level of satisfaction. Also, a well maintained used car can serve you for years. Here are other benefits of buying used cars Colorado Springs.
There is a significant price gap between new and used cars. Although the interest rates on new cars tend to be slightly higher than those on used cars, you are likely to end up with a slightly lower bill if you choose to buy a used car.
A new car loses a large portion of its value immediately you drive it off the lot. In fact, some cars lose as much as 40% of their value during the first year. Although a used car will still depreciate, you will lose less money less quickly. This minimizes the need for GAP insurance coverage, which covers the difference between the amount of your loan and the actual value of your car.
Compared to new cars, used cars offer buyers a wider selection of inventory to choose from. While it may not be possible to pick and choose color, trim and options when it comes to a used car, you get the opportunity to buy a model or style that is no longer in production. This is because you are not limited to models that were manufactured in the last year or two.
Lower insurance rates
Compared to new cars, car insurance rates for used cars will be significantly lower. According to most insurance companies, a used car is worth much less, considering the cost of replacement and repairs. Another benefit of buying a used car is that you will end up paying less in taxes and registration fees.
Certified and thoroughly inspected
Depending on where you choose to buy the car from, certified pre-owned vehicles guarantee you of getting a car in peak condition. These vehicles are refurbished, inspected, and certified by the manufacturer as high quality, making the purchase a bargain.
There is a wide variety of used cars Colorado Springs that drivers can choose from. Apart from making sure that your mechanic inspects the vehicle, you should also schedule a test drive. This will help you to decide if the car you intend to buy will suit your lifestyle and meet your needs.