If you’re looking for a new vehicle and you hate the idea of going from dealership to dealership, scouring the ads, and haggling over price, then shopping online might be a better option for you to click your way to the perfect vehicle at a good price. While online car shopping can feel overwhelming—offering everything from Hyundai Sante Fes to Jeep Compasses—online dealers often provide help with car buying to help you find the perfect car.
And your new car doesn’t have to be new. Online dealers, like Georgie.com, also help with buying used cars, which for most people, are a better financial option. Here’s why your next new car should probably be used.
Depreciation
New cars depreciate fast and many of them lose a lot of value early on. There are some rare exceptions, but buying a new car and looking at it as a financial investment won’t make Warren Buffett seek you out for financial advice any time soon.
The value of a new car decreases to 91% of the initial market value the minute you purchase it, says the Omni Calculator. It explains that the moment you buy a new car it becomes used. Just like that.
In a classic snowball effect, most used cars can depreciate as much as 50 percent over the first three years. For every Audi Q5 or BMW X3 that tends to retain more than 70 percent of its original value after three years, there are dozens of cars that are never going to give you a good return on your money if you sell them after three or five years.
Variety
That hot new 2020 vehicle might be the coolest car you’ve ever seen. If so, then ask yourself, how many cool cars are out there that you haven’t seen. No matter how many new models hit the car market each year, there are going to be hundreds of the used-car variety. You might never have known that you wanted a Shelby Mustang until you saw one for sale online.
The reality is, the old but classic cars can still be yours if you search around. Give yourself the freedom to view buying a car as a fun, eye-opening adventure. The used car market is always going to offer a much wider selection than the new car market. If you’re apt to want to go for a trade-in at some point, some used cars stand out.
Saving Money
The primary reason to buy any vehicle is to safely get you where you want to go. Everything else becomes a matter of individual preference and needs. Therefore, if spending less is your goal, a good used car is the prudent option to take when buying a car. The thought comes with a caveat of course.
It’s not just the car itself you’ll spend less on. You’ll also pay less for insurance, taxes, and registration fees when you choose a used car over a new one. That said, maintenance and repair costs are where you could run into trouble. But that’s not a hard and fast rule.
We’ve all heard stories about the person who other than changing the oil and spark plugs now and then had to do little to keep the used car he got from his parents running as if it were almost new for a long time. Just as “new” does not always mean perfect, “used” can truly often prove to be as good as new.
You’ll have a wider variety of vehicles to choose from, save some money, and not be shaken by how quickly your purchase drops in value if you choose to buy a used car over a new one when buying a car.
