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What are the Essential Benefits of Purchasing a Used Car? Buying a car is among the serious and expensive buys that you need to take you time to do a comprehensive research before deciding what kind of a car you want to buy. There are many things that you need put into consideration before you buy a car including, the cost, specifications, car payment and insurance processes. The problem arises when you are looking for a car to buy and this is where many individuals faced with the problem of purchasing a used one or a brand new one. Perhaps a brand new car seems like the obvious option; however there are a few rather important advantages of purchasing a used car, including the cost, insurance and maintenance, that need to be taken into consideration by everybody who considers that new vehicles would be the better choice. Low price tag is the most important and obvious advantage of selecting a used car over a new one. In case you opt to purchase a used car, then you can find a good model with great performances, in a really low cost. For instance, you could purchase a used sports car that cost more than $80,000 a few years back, as it was brand new, for as little as $40,000. New cars lose their value as they leave the automobile. When you talk about depreciation, used cars are more less affected compared to new cars. New cars lose most of their worth during the first two or three years. When you buy a used car you don’t have fear that it will lose its value, since it has already depreciated in value as it was originally bought as a brand-new car. If you decide to sell the used car you bought after using it for some years there are high chances of selling it at a fairly similar cost.
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Reduced registration fee is the other advantage to consider buying a used. DMV’s charge less for registering cars that are over five years old, and can be able to save a few hundreds of dollars a year like that. Used cars are not also subjected to sales tax for which brand-new cars is up to 7% of the purchase price.
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Ultimately, insurance for used cars is more economical in comparison to brand new cars. This is because a brand new car is more expensive and has a larger value, and it costs more to replace components and repair it when it gets involved in crush. To conclude, having a brand new car have some obvious benefits, but owning a used car has its own advantages too hence it is up to you to put into consideration above benefits before making your decision.