Many people like to buy second-hand cars because they are cheaper compared to the new models. Many used cars have better-built quality than newer variants.
Are Second Hand Cars Good? According to our experience, second-hand cars are good because they have low insurance costs and are certified by the manufacturers that provide free repairs. Moreover, they have lesser depreciation and offer more peace of mind while driving on long trips. In addition, you do not have to pay extra fees, including registration fees and taxes for the used cars. It can help reduce carbon footprint and allows you to enjoy the latest features at a low cost. However, they offer no warranty, have poor fuel efficiency, and require high maintenance.
You can consider all the benefits and disadvantages of used cars to decide whether it is good to buy them.
Their benefits are more dominating when you compare them with their flaws, which makes them a good choice over newer vehicles.
Is it good to buy second-hand cars?
Many people find it challenging to decide between new and used cars when they want to purchase a vehicle for themselves.
They ask fellows and family members to understand whether used cars are worth it. These are better than newer ones as you can get your desired vehicle at a low price.
You do not have to pay thousands of dollars for a new luxury automobile when you can enjoy all the features in an affordable manner.
One of my friends bought a used automobile 2 years ago, and he is satisfied with the decision.
So, both automobile types have their advantages, but you have to decide whether you want to compromise on price or buy the latest models to brag on the road.
Why are used cars good?
Second-hand cars offer many benefits over newer ones that make them good.
Some people want to invest less, but they want to get better, so used vehicles provide them with the opportunity to get used cars.
Low insurance cost
New cars have more insurance cost due to their increased market value and cover many types of damage that could occur in the near future.
There is a lesser risk of theft and damage to second-hand automobiles because no one is interested in harming a used product.
It is better to consider the presence of advanced technology in the new variants makes them less susceptible to accidents and damage, but it leads to severe damage when any mishap occurs.
The most attractive factor that compels buyers to move from newer to older vehicles is their low price.
You can purchase at half price the newer model when it has been used for years or even days.
Suppose you can get a used Honda civic for almost $15,000 when it has been used for more than 2 to 3 years. However, the price of the new Honda civic is around $20,000 to $22,000.
It can help you save around $5000 to $7000 for the same model having the latest features. So, you can get your favorite version at an affordable price if you search for a used model.
Newer models have more depreciation as their value suddenly decreases when they leave a lot in the showroom.
They have a high speed of depreciation in the few starting months and get to a resale value of almost half of their original price.
However, second-hand automobiles have lower depreciation and are considered a better investment because their price will not be half of the original investment.
The price of a Toyota Corolla can reach almost $3000 if you have purchased it for $5000 in a year. In contrast, the cost of the newer automobiles decreases by nearly 40% to 50% of the original amount.
Peace of mind
It is not easy to drive a new automobile because it provides a stressful driving experience. In addition, you have to drive it carefully to avoid dents and damage that can affect its resale value.
However, there is no such tension or stress when driving a second-hand car because you have invested less in it.
Moreover, you can take it for long drives without any fear of damage. It provides peace of mind and allows you to enjoy the ride without considering possible damages.
These certified pre-owned cars ensure that owners have inspected and fixed all the issues properly.
They have to fix all the damage, including dents, scratches, wheel misalignment, etc., before adding a label of a certified vehicle.
Certifications allow you to return itor ask for a repair as it is a warranty by the manufacturer.
No extra fees
These can help save money because you do not need to pay registration fees and other related taxes that are mainly imposed on the new ones.
Moreover, they do not ask you to pay any hidden dues like shipping fees for the delivery of a new variant.
Lesser investment and no payment of fees make them the first choice of buyers when they are interested in buying an automobile for transportation.
Reduce carbon footprint
Older cars reduce the emission of carbon dioxide and tend to be more environmentally friendly and greener than the newer ones.
According to research, it is found that newer automobiles are lesser in number in the market but produce more pollution and increase the carbon footprint.
While used cars keep the environment clean and improve the quality of air.
Your decision to buy a used vehicle is a kind of favor to the environment because the newer ones produce almost 10% to 11% of CO2 emissions.
What are the disadvantages of buying second-hand cars?
There are some disadvantages of old automobiles in addition to their multiple benefits, including the increased fuel cost and lesser warranty.
Poor fuel economy
Its components like engine, throttle body, and transmission line, lose their efficiency over time when you have covered thousands of miles.
Less efficient engines require more fuel to get more power and energy and increase fuel cost or decrease fuel efficiency.
These are based on an old technology because many other latest vehicles will become parts of the automotive industry after purchasing them after 4 to 5 years of their release.
However, there are a few chances of getting the latest model that has been run on the roads for only 1 or 2 years if you are lucky enough.
High maintenance cost
Older variants running on the road for more than 5 to 7 years require more maintenance due to their parts’ natural wear and tear.
They are more prone to damage during accidents as compared to newer ones.
In addition, high maintenance cost makes them a wrong choice for some people who want to invest for a single time in their vehicle.
Little or No warranty
Almost all the vehicles have a warranty of around 4 to 5 years which can cover all the accidental damages and other technical issues.
When you purchase it after 4 to 5 years, it means that its warranty period is going to end soon or ended recently.
So, you cannot enjoy the perks of free repair if any mishap occurs. Most of the time, newer cars can last longer.
What to look for when buying a used car from a dealership?
A few things need to be considered when you are interested in purchasing a second-hand car and making up your mind to visit a dealership.
It is better to inspect the condition of the vehicle by examining all the internal and external components, including the paint or wheels and the functionality of electrical components.
You can ask for a test drive to get an idea of the mileage and efficiency of the engine. Then, when you feel satisfied with the condition, ask dealers for negotiations.
Moreover, try to convince them for the lowest possible price because they want to move it quickly out of the showroom at the best price.
You have to check its history report to know about the accidental history of the automobile. It helps check whether it is involved in any crime or serious accidents.
Accordingly, you can determine the flaws in a particular vehicle component after knowing about the accident type.
Check the availability of its components at other mechanic shops to know whether you have to struggle for repair in case of any issue.
You can confirm the purchase and make payments to drive it away after inspecting all the aspects in detail when you have decided to buy it.
How much mileage is acceptable for a used car?
The acceptable mileage for a used car depends on the model, as some of them are in good condition even after covering thousands of miles.
You can estimate mileage to be around 10,000 to 12,000 in a year for an average car.
You can calculate the total mileage for a particular vehicle by multiplying this estimated number with age.
Suppose you want to buy a 4-year-old car, then multiply an average mileage by 4. You can purchase a 4-year-old variant having almost 40,000 to 48,000 mileage as it is reasonable.
Moreover, some modern variants with the latest features remain efficient, even running 150,000 to 200,000 miles.
However, many people prefer those models with odometer readings less than 99,000, indicating minimum vehicle use.
What do people say about used cars?
I surveyed 683 people to know about the reliability and efficiency of used cars and whether these are good to buy.
Out of 683 people, 458 people (67%) said it is good to buy used cars because of their better prices as there are no registration fees and other kinds of taxes to be paid for such used cars.
However, 176 people (26%) said these automobiles have their own internal issues and require frequent maintenance, so it is better to invest in a new one that can run for a long time with a warranty.
While the remaining 49 people (7%) said, used vehicles are good to buy for those who cannot afford the latest models packed with new features.
The low price attracts buyers, but they do not buy a car without careful inspection as these vehicles have many issues.
Its price reduces to almost 10% to 12% when it leaves the showroom, and you can benefit from the depreciation.
“I bought a used Hyundai Elantra for $11,000 6 months ago when the price of the newer model was around $21,000. I enjoy driving it for even long distances.”
Used cars have critical issues that require frequent maintenance, so investing in such a car will be a loss.
“I regret my decision to purchase a used car because it cost me more than a new one as I have paid a lot on its repair.”
The cost reduces with the age of the automobile, and you can get it for almost half of its original price after 4 to 5 years.
“I wanted to buy a Toyota Corolla in 2008 when it was new in the market and had a cost of almost $7000 to $8000, but I could not afford it. So, I purchased a used Toyota Corolla in 2012 for almost $4190.”