When it’s time to purchase a new vehicle, there are a lot of decisions to make. Everything from make and model to colour and add-on features needs to be decided on. Before you get too overwhelmed, the first thing that you should determine is whether you’ll buy new or used. There are benefits to both, but buying a new car is unnecessary in most cases. You can buy a gently used car for a lot less and still reap the same benefits of buying new.
You can choose to buy a used car for more reasons than just the price tag. You’ll save on additional dealership fees, loss in value, and more. You just need to make sure to buy a car that’s like new. Below are the top five benefits of buying used cars for sale in Canberra instead of brand-new ones.
No Sales Tax
Skip on the sales tax by buying used. Sales tax is often overlooked when buying a car but it can cost you hundreds if not thousands of dollars depending on where you live. You can skip the tax by simply buying used instead.
Lower Registration Fees
Your registration fee is based on your car’s value and model year. In most places, the registration fee falls greatly during the first few years the car is manufactured. You can save thousands of dollars if you buy a car that’s between two and five years old.
If you’re looking to buy newer, know that the registration fee may be a bit higher than older cars but you’ll still save money over buying brand-new.
Lower Price and Less Depreciation
A new car loses thousands of dollars in value the second it drives off the dealership lot. You can save a lot of money by choosing to buy used. Deprecation is when a car loses value after use and buying used helps to fight that. If you ever sell your used car, you’ll face minimal deprecation. You’ll be avoiding the initial hit the previous owner took as well.
Good Condition
Most cars will last 300,000 kilometres or more. This is a lot longer of a life expectancy than even five years ago. Your car should last a long time if you care for it well. Just try to buy your car in like-new condition. You may also want to make sure that you buy your used car with a warranty as well for further assurance.
Avoid Dealer Fees
One of the best parts about buying used is that you can avoid crazy dealership fees. Dealerships can charge all kinds of additional fees including shipping charges, destination fees, dealership preparation, and more. This is the best route to take when buying a car.
When you buy used, you can avoid the majority of these pointless fees and only pay for the things you need. Also, you can negotiate fees a lot more when the car is used and not brand-new.
