Consumers generally like buying things that are new, things that no one else has owned. That’s understandable, but it’s not always prudent—especially for high-ticket items like cars.
For one thing (to state the obvious), new cars cost more than used vehicles. For another, used cars are more reliable than they were two or three decades ago, with the simple reason being that cars are now built stronger and last longer than they used to. As Jack Nerad (from Kelley Blue Book) points out:
“Used cars are a great value. Cars today are really good and really last a long time. They have longer useful lives than in the ’50s and ’60s when I was growing up.”
Buying (the Right) Used Car is a Smart Decision
Of course, you need to do some research to find a used car that’s right for your needs and your wallet. For example, you’ll probably get a better deal if you buy a used car in the winter or during the holiday season.
Also, some models are better deals than others. For example, if you plan to spend up to 20,000 and want a compact car, you may want to invest in a certified used Nissan or another pre-owned vehicle on this Consumer Reports’ list.
That said, there are several good reasons to buy a used car instead of a new one, including the following:
New Cars Depreciate (a Lot)
The new car you drive off the lot is worth about 20% less by the time you get it home—and most new cars depreciate another 10% by the end of the first year—which equals a total depreciation of 30%. Think of it this way: if you spend $25,000 on a new car, it could be worth only $17,500 within a year. Ouch!
The good news? Depreciation decelerates dramatically after that first year, which means buying a car that’s one or two years old is financially smart. Enter, certified pre-owned Nissan models. You can get an amazing discount on like-new Nissans by investing in a CPO model. Best of all, certified cars often meet manufacturer standards and come with extended dealership warranties. It’s not exactly the same as the warranty you’d get with a new car, but it is an added level of protection.
Browse our current selection of used Nissans for sale in Springfield.
You’ll Pay Less for Insurance and Registration
What you pay for auto insurance is a function of how much your car is worth. Because a used car is worth less than a new one, your insurance costs will be lower. Also, if you buy a cheap used car in Springfield (one that’s several years old), you have the option to buy limited insurance.
In addition, what you pay to register your car depends on the state. In New Jersey, vehicle registration fees range from $34 to $84, which is determined by your vehicle’s age and weight. To find out how much vehicle registration fees cost in your state, visit www.ncsl.org.
You’ll Get More for Your Money
Increasingly, carmakers are not redesigning models every year, which means the one-year-old car you buy probably isn’t very different from the latest model. There’s a pretty good chance, in fact, that your neighbors will assume your car is new (unless you tell them otherwise).
Equally important, because today’s cars are designed to last longer, buying used doesn’t carry as much risk that you’ll be hit with high maintenance and repair costs, or that your used car is going to break down on the highway. Indirect savings are as important as the sale price!
Buying Used Isn’t the Risk It Once Was
Shopping for a used car is a very different experience today than it was for your father. In those days, you had to rely on whatever information the dealer gave you about the used car. That meant you didn’t necessarily know much of anything about its history.
Today, consumers have lots of options to get the facts before signing a dotted line. With vehicle history reports like Carfax, just about any used car’s past is just a click away.
5. Don’t Settle for a Bad Used Car
You can learn a lot by doing your research, but your best bet is to buy your used car from a reliable car dealer like Nissan World of Springfield, NJ. Serving Elizabeth, Plainfield, and the Piscataway areas, we proudly help customers choose the right used car for them, not just a used car. It’d be our privilege to do the same for you.