Top 4 Reasons Why Used Cars are Better Than New Cars
Thinking about buying a car, but not sure if you should buy used or new? Check out Capital Auto Auction inventory for a wide range of vehicles of all makes and models.
Cars sold at an auction are typically preowned and priced for far less than a brand new vehicle. This is great news for people for people like you and me who are trying to work within a budget.
Buying a used car is probably the best decision you’ll ever make and here are the top reasons why.
- Buy cars for pennies on the dollar at auto auctions.
Purchasing a used car at a public auto auction, whether live or online, is a good move for those who are looking to rake in some big savings. Since new cars depreciate in value the moment you drive them off the car lot, people will be able to buy relatively newer used cars for as low as 30% to 40% of its original market value.
It’s not unusual for participants at an auto auction to strike a good deal by bidding on vehicles that have been recently repossessed or traded in. These vehicles are usually the ones that’ll give you the most bang for your buck.
When you purchase a vehicle at auction, you can get a vehicle for just pennies on the dollar compared to buying a new vehicle at a dealership. This savings can be put towards fun extras or improvements in your vehicle such as backup cameras or aftermarket LCD in-dash screens.
- You won’t have to worry about expensive car insurance.
Brand new cars are super expensive to insure. As such, since a used car is worth less than a new vehicle, insurance costs are much, much cheaper. Furthermore, when you buy a new vehicle and have a loan on it, you’re required to get comprehensive car insurance. When you buy a used car, it’s also possible for you to save a good deal of money because some items may be ticked off of the insurance policy.
- Buyers are provided with the used vehicle’s history.
Known vehicle history is another advantage when buying a vehicle at an auto auction. It gives you a chance to know what you will be getting, when you do decide to bid for a particular vehicle.
You can check a vehicle’s history through the car’s vehicle identification number (VIN) with the help of companies such as CarFax and AutoCheck. These records will be able to tell you if there have been any accidents with the vehicle, when maintenance was performed, as well as any repairs made on the vehicle throughout the years.
- Less expensive government fees.
When buying a car, whether new or used, taxes, registration, and other government fees - like vehicle inspection/smog test costs - are inevitable. However, there is one big difference. When you purchase a used car, for a cheaper price than a new vehicle, taxes, title, and registration costs - not to mention insurance costs - will be far less than than the fees associated with a new vehicle.
These are just a few of the many benefits you’ll enjoy when you go for a used car as an alternative option to a new car. Sure, a new car feel awesome at first, but that feeling will fade with time - and you’ll still have that hefty loan when the feeling’s gone.
When you score a gem at an auto auction, you get a good return on your investment and a full wallet as well.
A Word of Advice
When you participate in an auction, make sure that you don’t get caught up with the bidding frenzy that can lead you to overbid. Remember to just walk away from a deal if you reach your maximum bid limit or budget. There are always more vehicles ready to be sold at the next upcoming auction.
Ready to buy a used car at a public auto auction? Capital Auto Auctions hosts weekly auctions in each of our locations - Washington, DC, Temple Hills, Maryland, Philadelphia, Pennsylvania, and Manchester, New Hampshire.