Why Buy Used Cars
Why buy used cars for sale at our Pre-Owned Mitsubishi Dealership in Oxnard, CA?
When you’re in the market to buy a car, there are many options that come to mind. You could buy or lease a new vehicle, or you can buy pre-owned. As a used car dealership located in Oxnard, CA, we are here to share with you of the many benefits of buying a pre-owned vehicle instead of choosing one of your other options.
Less Deprecation of Value
One of the biggest reasons for you to buy a used car is that they experience significantly less depreciation. When you purchase a new car, that new car can lose as much as 20% of its value as soon as you drive it off of the lot. Many cars will then lose 10% of its value within the first year. That’s a total of 30% of a new car’s value in just one year.
Lower Insurance Rates
A major factor in determining how much your car insurance will cost is how much your car is worth. With a new car, the value is higher, which means that your insurance will likely be higher than with a used car with less value.
Lower Vehicle Registration Fees
Most states base their registration fees off the transaction price, which means that you will pay more fees for a new car.
More Bang For Your Buck!
If purchasing a used car is a comfortable option for you, you will get a much nicer vehicle for the amount of money you spend. If you want a luxury car, you may not be able to afford a brand new model. However, the same luxury car that is a few year older, even with low mileage, can save you over 5 figures in total cost!
Keeping peace of mind
It used to be that buying a used car was a roll of the dice. Companies such as Carfax and AutoCheck produce vehicle history reports. Based on the car’s VIN, these reports provide an array of valuable information including verification of the mileage and whether the vehicle was ever declared a total loss by an insurance company.