What Are The Benefits Of Owning An Old Car?
What are the benefits of owning an old car?
For most of you, having the brand-new car is the dream. Of course, as much as possible, we want our vehicle to be fresh out from the garage of car manufacturers. Glittering. Sleek. We want our cars to have that when we first get them.
But sometimes, the new ones aren’t always the best. There are tell-tale signs that can indicate that instead of a brand-new, you should get a used and old vehicle. Well, if you are keen to know the reasons behind this claim, better check out the reasons listed below.
It is Practical
One of the most compelling reasons why buying old vehicles is a good choice is practicality it brings. It is quite obvious that used cars are sold at a significantly lower price than their brand-new counterparts. In fact, some used units can go as low as 50% of their original price, which is downright staggering already.
For instance, if the model of the car that you want has a market price of $50,000, getting an old version of it could help you save as much as $25,000. That money is significant enough to be invested in other ventures. Alternatively, you can use the money you saved to buy another car for your family.
Cars Depreciate Quickly
In the past, the value of cars doesn’t go easily–even if five years have passed. Such a trait made them a good investment, especially if you want something that you can use as leverage in case of sudden financial crises.
However, the recent years already indicated that the monetary value of vehicles is already short-lived. They are pretty similar to smartphones already. This year, a particular phone has a ceiling-high price. In the following year, it is already in the middle or bottom of the market. Right now, cars are experiencing the same predicament, too.
According to some dealerships, the value of a new car drops as high as 11% after it left their garage. Therefore, if you purchased a brand-new vehicle for a price of $20,000 in the dealership, it’s the market price when you get home is lowered already to $17,800. Of course, that value will continue to lower the more you drive your vehicle. A one-year-old car will never be the same as before with respect to its market value.
Therefore, buying old vehicles doesn’t harm your stature at all. You are just acknowledging the fact that the value of these vehicles is just fleeting.
No Underhanded Fees
If you are a first-timer when it comes to buying vehicles in the dealership, then you should need this information.
Those dealerships sell their units at a given price, which on the surface, seems appropriate and justified. However, there are several dealerships out there that put hidden charges on the cars they sell. In fact, some of these fees have overwhelmingly high costs. Such charges are labeled under destination fees, shipping fees, and even the thing they call “dealer preparation.”
There are certain bizarre instances where some dealerships would charge their purchasers with “advertising fees.” It is quite funny, but once you know that this fee does no go below $1,000, you’ll get really mad.
Keep in mind that these fees are exclusive to the original price of the vehicle that you want to buy.
On the flip side, used cars don’t have any of these fees. So if you are concerned with your money, I do suggest that you opt for old cars.
Minimal Costs In Customization
Customization costs for old cars are not as expensive when you get them as add-ons for your new vehicle. We all know that dealerships have specific rules and contracts for customizing their vehicles. When you have a used car, you can do the installation by yourself. The money you saved from buying a used car can be directed to the cost of customization and repair. In hindsight, these investments are not bad at all.
You Get A Good Quality Vehicle
Albeit to popular belief, used cars are not some damaged units. All you need to do is to get a Certified Pre-owned vehicle to ensure that the unit is free from any broken parts, engine issues, and other considerable damages. These Certified Pre-Owned vehicles have undergone refurbishing and inspection from the manufacturing and other third-party inspectors. The certification is your foolproof assurance that used vehicles are still in good driving condition.