Why Should You Buy A Used Car

Why Should You Buy A Used Car
By John Hayden

Cars are more expensive in Canada when compared to the US; we pay up to 20% more on cars in Canada than our counterparts across the border. With car prices continuing the upward trend and their average lifespan going down, it only makes sense to spend money on a used car. Here are a few reasons why we think you should buy a used car:

Depreciation:

Cars lose value right from the time you drive it from the showroom. They lose up to 25% of their value even before the first year. Some lose nearly half their value in the first three years. Fortunately, this depreciation curve flattens and becomes irrelevant over time. When you buy a used car, you are likely to save a huge percentage of your money on the car’s total depreciation. Buying a vehicle that’s around 2 to 4 years old ensures that you drive a fairly new vehicle and yet save money.

Easy credit:

Used car dealers offer easy credit for cash-strapped buyers. They are several zero credit and bad credit car loan deals that you can avail. In fact, some of the loans can help you build/rebuild your credit score.

Easy to replace:

If you are one among those, who love to drive a new car every year, buying used cars opens a world of opportunities. You can easily move up to buy a premium brand car at half the cost of the new model.

Customize options:

For car enthusiasts, ease-of-wrench is an important factor when buying a car. It makes sense to buy a used car and customize it according to your requirements, rather than pay thousands of dollars on a new car to do the same thing.

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