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Key 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. Price, specifications, car payment and insurance processes are among the many things you need to consider before buying a car. When looking for a vehicle purchase, many individuals are normally confronted with the problem of purchasing a used one versus a brand new one. The obvious option is always the brand new car; nevertheless there are a couple of rather important benefits of purchasing a used car, like cost, insurance and maintenance, which need to be taken into consideration by everyone who believes that new vehicles are the better choice. The obvious and most important advantage of buying a used car over a new one is the reduced price. There are great versions of used cars with great performances at very low prices if you will opt for used cars. 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. That is because new cars lose their value the moment they leave the dealership. Used cars are not affected by depreciation as brand new cars are affected. The value of new cars depreciate during the first two or three years. If you purchase a used car, you don’t have to consider it losing a lot of its value, since it already depreciated when it was originally marketed as a brand new car. However, if you make a decision of selling the used car after a couple of years, you will be able to sell it in a pretty similar price.
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Reduced registration fee is the other advantage to consider buying a used. Cars that are more than five years old are charged less at DMV’s during registration this way you can be able to save a few thousand dollars a year. Moreover, used cars are not subjected to sales taxation, which, for brand new cars, is up to 7% of the buying price.
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Lastly, used cars insurance is much more cheap compared to brand new cars insurance. This is because a brand new car is more expensive and has a greater value, and it costs more to replace components and fix it if it gets damaged in a collision. In conclusion, brand new cars have obvious advantages, but also possessing a used car has its own benefits and you need to consider this choice before making your final choice.