Ready to hit the streets of San Jose, Milpitas, and Mountain View in style? Buying a used automobile rather than a new one can save you a lot of money in a variety of ways. The sticker price alone will save you money on a used car, but the savings don't end there. In terms of fees, insurance, and depreciation, you'll reach far less for your pocket than if you drove a brand-new vehicle. Premier Nissan of San Jose can help you out and get you cruising in the car of your dreams today!
Car depreciation can be used to the advantage of smart purchasers seeking a good purchase price. Because depreciation will have an effect no matter the vehicle's condition, used cars are substantially less expensive than new cars. Because it will have already gone through its major depreciation by the time you get behind the wheel, a used vehicle depreciates at a far slower pace than a new vehicle. New cars depreciate once they are driven off the lot, whereas used cars degrade more slowly, resulting in a more consistent loan-to-value ratio.
In general, insurance for a used vehicle is less expensive than insurance for a new vehicle, just as the vehicle is less expensive. While a new car's list price is normally more than that of a used car, this isn't always the case with insurance. Every year that your vehicle ages, your auto insurance prices decrease by 3.4%. A vehicle that is eight years old costs about 25% less to insure than one that is brand new. If you do decide to buy a used car, make sure you do your homework to get reasonable auto insurance coverage rates.
Another key advantage of buying a used automobile over a new one is that you can stretch your car-buying dollar. This means you can get more car for your money if you buy used rather than new. You may not be able to afford the most recent model of a luxury car, but a model from two or three years ago maybe more cost-effective. Because carmakers are no longer drastically redesigning their models every year, differences in technology and style are becoming less and less noticeable.
The expected fees that come with your used vehicle are not made equal throughout all 50 states, just as insurance differs by ZIP code. However, because the car is less expensive to begin with, they are less expensive than the fees associated with a new vehicle. This is especially true if you have to pay any sales tax. To plan for the additional expenses that come with owning a used vehicle, check your state's DMV website for specifics on title tax, registration, and paperwork fees. In addition, many used automobile businesses are more than happy to help aid with auto financing. They take care of all the annoyances that come with obtaining a car loan.