A used car can be a great option if you’re in the market for a secondhand vehicle. They are more affordable than new cars and offer many of the same features and benefits as new models. But before you trade in your old ride for an equal-year model, it’s essential to understand what makes these vehicles such suitable investments. Read on to find out some of our reasons why used cars in tempe make such suitable investments!
1) Lower price tags: A new car has an initial sticker price that can reach six figures; by contrast, most used cars start at significantly lower prices than their newer counterparts. Although the initial purchase price of a used car is lower, keep in mind that you’ll need to invest money in certain essentials — like extended warranty coverage or an upgraded sound system — but your overall outlays will be considerably less than they would have been if you’d bought a new car.
2) Less depreciation: New cars lose their value as soon as you drive them off the lot; a 2014 model will only be worth about half its original value four years later. With a used car, however, you can recoup 70 percent of its actual price after just three years — and up to 90 percent of that value after just five years. So not only will your initial investment last longer with a used car, but you’ll also be able to resell it at a higher price within the same time frame.
3) Higher safety ratings: Many different safety features go into making new cars as safe as possible; however, they can become outdated fairly quickly. By contrast, aftermarket additions such as extra seat belts and airbags are frequently updated in used cars. You’ll be able to take advantage of the latest technology in your vehicle without breaking the bank.
4) Better resale value: Because many people are hesitant to buy a secondhand vehicle, used models can sell for much higher prices than their newer counterparts. For example, if you were to purchase a 2016 model that retailed for N100m, you could turn around and resell your vehicle for up to N75m after only one year.