Buying a car appears to be a huge deal because of the significant financial commitment. You’re putting a lot of money down and giving up a significant portion of your monthly wage. Not to mention, you’ll be driving this thing for years if everything goes well. 

However, buying a brand new car might be a little too tight for the amount of money that you can spare from a limited budget. Rather than agonizing over how you will be able to afford a brand new car, unwind and begin searching for a quality trade-in vehicle instead. This won’t just save you stress, it will save you a huge load of cash. Here are the reasons:

New cars lose value quickly

Once you drive your shiny new vehicle off the dealership, it loses up to 15% of its worth. That means you’ll only get a lesser selling price for the not so brand new car in case you decide to sell it back. So, no matter how much it cost you to buy your car, you’ll be throwing away a few hundred dollars more in the secondary market. What’s more, your new car will depreciate considerably more over the following three or four years. 

Insurance and sales tax are less expensive

Because new cars are more valuable, they cost more to insure. On the other hand, the value of a used vehicle is substantially lower, you’ll be able to save money on insurance and maybe even change the coverage you have. Moreover, you will definitely save a lot of money on sales tax because the overall cost of a used car will be less than a new car. 

Cars are built to last

If you buy a three- or four-year-old car and maintain it properly, you may expect to drive it for at least 6 years. When you factor in maintenance over the course of six years, you’ll have saved more money than if you’d bought a new automobile in the first place. Purchasing a decent-used car every 6 years is less expensive than purchasing a new vehicle every 10 or 15 years.

Get a fancier car on a budget

You might be able to acquire a fancier automobile than you thought your budget would allow if you look at used cars on the lot. If you are a car enthusiast but don’t have the capability to make a collection, this could work just as how you actually want a BMW but only have a Honda budget. You might be able to buy an old Lexus for the same price as a brand new Toyota.

Less stress while driving

For sure, a brand new car gives you adrenalin. But, once you’re on the road, it becomes a totally different story. You’ll be keeping an eye on every car on the road as it approaches the dotted line. Also, forget the parking lot. With a used car, you’ll just be able to hop in and get on the road without worrying how long you could keep your paint job perfect.

Sustainability

The word “sustainable” has been thrown around a lot these past few years, and it can especially be applied to the car industry as well. Although driving a used car still produce emissions into the environment, 28% of carbon dioxide emissions created over the lifespan of a conventional gasoline-powered automobile can occur during its production and delivery to the dealer.

Perhaps, the last reason is my favorite. Not only is it a simple approach to reduce our carbon footprint, but it precedes all the other reasons mentioned above. Also, if you buy a used car instead of a brand new one, wouldn’t that be one less car on the road. You don’t only get to reduce air pollution, you’ll also be able to minimize noise and traffic pollution.

So, have you already decided? Now, let us help you get that good old automobile through our car financing solutions!