5 Reasons to Buy a Preowned Vehicle Instead of a New One

The automobile market is thriving these days with modern engineering technology developing new and improved models with amazing hi-tech features. However, the market prices of these vehicles keep fluctuating with the different trends in the market so it is important to be aware of them before you decide to purchase a car. There has always been a debate about the advantages of preowned cars over brand new cars. Here are some factors listed to help you weigh the pros and cons when approaching a car dealer.

Cost

The most obvious benefit of getting a preowned car is the negotiable price depending on its condition and time of release. You can easily afford a really good preowned car within a reasonable budget. The trouble usually accompanying the payment of a brand new car is that the lack of good credit results in difficulties when applying for a loan.

Insurance

The insurance costs for a brand new car are much higher than those for a preowned car. Also the owner does not have to be on their toes all the time afraid to scratch or dent their new car accidentally. Overall, a new car is a much larger investment that not everyone at afford in difficult financial times.

Depreciation

Most car prices drop up to 40 % within the first year! This means that instead of walking into a showroom to select a new model, you can just purchase the same model from a quality car dealership company after a couple of months.

Improved Reliability

The business of preowned car dealerships has developed greatly in recent decades leading to a more flexible and reliable system of certified dealers. A new car comes with a definite full warranty that extends for a reasonable period of time. The original factory warranty on a new car can actually be transferred when it gains new ownership if the time falls within the preordained warranty of the car company. So a portion of the leftover warranty can belong to the new owner of this preowned car.

Choice of a Higher Model or Discontinued Features

Recently launched cars obviously come with attractive new features but they are not within everyone’s budget. One can easily buy a relatively new classy model with almost the same design and innovative features for a fraction of the original price. So a buyer can conveniently upgrade to a higher model well within budget. Sometimes a car enthusiast finds some older features more suitable for themselves that are absent in the latest models. Preowned cars are a great option for such individuals.

Although the purchase of preowned vehicles may be tricky, most problems can easily be eliminated by the choice of a reliable well established car dealership. At AutoHouse only the best preowned vehicles in prime condition are sold to satisfied customers with additional consultation services and benefits.

How to Deal with Car Payment Options?

When purchasing a new or previously owned vehicle, there are two ways to go about it. Either you can give the complete payment at the moment you take it home or you can pay it in installments over an agreed period of time. Most people find it hard to make the entire payment in one go because of the sky rocketing prices of vehicles nowadays. So, the installment option is the one most car buyers tend to lean towards. However, the choice to make the payment installments comes with its own concerns. There is the initial down payment to consider and interest comprises a major portion of the entire amount of money this way.

The time limit depends on the car dealership so you need to be crystal clear on how much you will be able to contribute towards the actual payment every month. This requires a lot of advance planning and money management on your part so you must be sure that this is the method you want to choose. The car dealership company may offer to help you with financing or you may select a separate source like a finance company, credit union or a bank. You must thoroughly research all opportunities, scrutinize and compare all such deals to ensure that you have picked the best available one. All special offers and deals must be studied in detail to be satisfied that there is no catch you might get stuck with. Beware of deals where you might have to give a huge down payment. If somehow you decide to sell the vehicle, you will have to face a big loss. You will have to deal with a similar situation if the vehicle is damaged beyond repair.

So, before agreeing to any terms of the seller, you must plan and make a strategy to come up with the best approach when purchasing the vehicle of your choice. Understand how much of your resources are being spent and the role of the finance organization. Know how many total installments there are and how long will it take to complete the transaction. Be certain you are aware of how much you will be expected to pay in each of the coming months. Compare the ideas of paying the total sum at the time of purchase and in installments. Weigh the pros and cons and ask yourself which method will be more convenient for you and result in the least loss. At Auto House, Calgary, there are many payment options designed to suit the requirements of the customer for an easy and pleasant purchase experience.

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