Deciding whether or not to buy a used car is an important decision — and we’re here to help! In this post, we’ll talk about what goes into the value of a used car and why you should think about it before you head down to the dealer.
Have you ever wondered why a new car depreciates quickly while a used model (which is basically an older version of the same make and model) holds its value better? The simple answer is that a car, like anything else, loses value over time. With cars, the main factors that affect cost are age and mileage. The older your vehicle is and the more miles it has, the less value it will have.
The age of your car can affect its value for two reasons. The first is that the wear and tear that comes with regular use wears down an older car’s engine, brakes, suspension, and other parts. As these parts wear out over the years, the vehicle loses more value. The second reason is simply that your car will start to look old. Your vehicle might not look as lovely after it spends a few years in the sun or rain, especially if you don’t take care of it. This can make for a less attractive used car.
A used car is a wise investment because it loses value slower
A new car loses its value the second it rolls off the lot. On the other hand, a used car keeps its value as long as it is maintained and not driven too much. The more a vehicle is driven, the more miles it has, and the older it is, the less value it will have later on.
Don’t get us wrong — every vehicle loses value over time. That’s just a fact of life. But, when you’re aware of the value trends and the reasons behind them, you can use that information to your advantage when buying a car. For example, a used car’s value will drop far less in the weeks in months ahead than that of a new car. There is no disputing that, and it’s a proven fact. That’s the purchase of a used car makes more financial sense than buying a new car.
So, is it worth the effort to buy a used car?
The short answer to that question is yes. A used car’s value is far more stable than that of a new car. You can spend hundreds (if not thousands) less on a used car, and you’ll spend much less time worrying that the value will plummet the day after you drive it off the lot. A used car won’t depreciate as quickly as a new car, and if you plan on keeping it for several years, it will keep its value better than a new car. These are just a few reasons you may want to consider purchasing a used car over a new one.
It makes sense on many levels why you would buy a used car over a new car. It’s simple math, no matter how you look at it. There are plenty of used cars in yakima on the market for purchase. If you’re smart about your search, you’ll be able to find exactly what you want at a great price.