There’s no denying that the smell of a brand new car is an intoxicating one (apparently the science behind it is known as ‘off-gassing’ – who knew?) and the feeling of getting a picture taken in front of your glistening new ride, lovingly wrapped in a giant brightly-coloured bow, is unmatched.
But the novelty of a brand new car wears off almost as quickly as R100 of petrol lasts in one’s tank – pretty damn quick.
So in today’s day and age when expenses are racking up like never before and an ever-growing number of people are selling their cars like hot cakes, there are a host of long-term benefits to investing in a good, reliable second-hand car.
According to Google, it’s possible to recreate that new-car aroma with one part vinegar and two parts water in a spray bottle. Plus, most second-hand car dealerships understand the sacredness of the bow, so even if your new car is not hot off the conveyer belt, there’s a high chance it’ll still be wrapped up in a bow when you collect it.
Here are five reasons why it’s beneficial to buy second-hand cars:
Less vehicle depreciation
We all know the saying: A new car loses its value the moment it leaves the dealership. Sadly, it’s true. A new car usually loses up to 11 to 15% of its value once it drives off the showroom floor and after twelve months, it will have depreciated by up to 25%.
A second-hand vehicle, however, depreciates at a much slower rate because once you’re behind the steering wheel, it will have already undergone its major depreciation.
This means that you’ll have the opportunity to sell back your second-hand car at a reasonable price, not far from the money you paid to buy it in the first place.
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Cheaper car insurance
Although different factors determine the cost of car insurance, like insurance coverage, the model of the car, as well as the age, location and driving experience of the owner, a car’s age and value also greatly impact the amount of insurance premiums you pay on it.
So a slightly older, less valuable (in terms of money) car will therefore be cheaper to insure than a brand new vehicle, yet it will still receive the same kind of coverage.
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More bang for your buck
Stretching your car-buying rands is another major benefit that comes with buying a second-hand car.
You can buy more car by buying used rather than new. If you have your sights set on a luxury car, you may not be able to afford this year’s model, but one that is two or three years old could better fit your budget.
The result? You get the same luxury feel for less money spent.
It’s also important to consider the fact that many carmakers aren’t redesigning their models every year, so the style and technological differences between each year’s models may be less noticeable
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More peace of mind
Buying a used car used to be a roll of the dice and attached to a sort of stigma. Most parents would say buying a second-hand car simply meant ‘buying someone else’s problems’ and many drivers saw it as a risk.
But thanks to the constant evolution of modern technology and information storage systems, vehicle history reports based on vehicle identification numbers (VINs), mileage verification, ownership history and accident reports are available with a few clicks of a button.
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Less stress about minor damages
Buying a used car lets you worry less about scratches and other damages that are not major. While we can all agree that there’s a lot of excitement in the air when driving a brand new car, we can also agree that it’s also a pretty stressful affair.
Of course, to never damage your car, whether minor or major, is the ideal scenario, but there’s a higher likelihood that you’d experience a bigger heart race if you scratched a brand new car than a used one.
Published by Tauhira Ajam
