Four Reasons to Buy a Used Car

Vehicles will come and go in your life. At Ole Ben Franklin Mitsubishi, we know that when it’s time to add a new vehicle to your life, you have a lot of different options. 

In the end, they will boil down to two main routes: do you buy new or used? Let’s take a look at some reasons used cars can be a better investment than buying new.

Couple purchasing vehicle

  1. Lower Prices Across the Board

The first and simplest reason to buy used: you’ll get a lower price. The same make and model of a new Mitsubishi vehicle that’s just a year or two older can be significantly cheaper. Plus, you’ll find a wider variety of deals flexible financial arrangements available for a used car.

You’ll be able to find cheaper insurance rates for a used car as well, not to mention lower costs in registrations and other fees.

  1. Certified Pre-Owned 

A new car can take a lot of question marks out of the situation. Still, if you elect to go through a reputable dealer, you can select a Certified Pre-Owned vehicle. A CPO vehicle will feature pre-owned vehicles which have been put through a rigorous inspection process. 

The multi-step inspection will have pulled the vehicle’s entire history, including a complete list of the car’s previous owners, if it’s been in any accidents, or if it’s had any major repairs done. Each Certified Pre-Owned vehicle will be in excellent condition and ready to drive right off the lot.

Plus, you’ll get a comprehensive car warranty program that can be customized depending on your needs.

  1. Depreciation

Anything new does not stay new, this is just a given. A new car will immediately start to depreciate in value, sometimes as much as 11 percent just on the first drive home. A used car has most likely lost the bulk of its resale value by the time it finds its way to you. In this way, you’re getting more for your money than if buying new.

If you sell the car within a few years from buying, the resale value will be much stronger in comparison to the devalue rate of a new car in the same period of time.

  1. An Unpredictable Market

As reliable as the car market usually is, there are times when everything feels in flux. When supply chains run short, a backlog in new car production can occur. In an event such as this, used car values tend to go through the roof. 

A used car can be a very wise investment, saving you money while proving a valuable piece of property. Contact Ole Ben Franklin Mitsubishi today and find a quality used car that’s best for your situation!