3 Reasons to Buy Certified Pre-Owned Vehicles
Buying a new vehicle is always an exciting experience, especially when it’s one that’s never been driven before! A truly new vehicle carries its own prestige and status, showing everyone around you that you can afford to have the best and most innovative model around. That said, sometimes it might be more beneficial to purchase a used or certified pre-owned vehicle instead! Continue reading below to see what sort of benefits we’re talking about!
1. Depreciation Has Already Happened
When you buy a new vehicle nearly 11 percent of its value is lost the moment it leaves the lot. Another 20 percent is lost within the first year, meaning that around 30 percent of its total value has already depreciated. That means that the vehicle you bought for $30,000? It’s now worth about $20,000, and that’s a big hit in just a year’s time.
That’s why we recommend buying an older vehicle! Even if it’s just a year older than the current model, it’s already lost that 30 percent. That means that you’re buying a vehicle that’ll keep its current value longer and one that’s not too old to really make a difference!
2. Certified and Inspected
A certified pre-owned vehicle is one that is assured to be of quality. They’re inspected thoroughly and refurbished by the manufacturer or another authority, meaning that you won’t have to worry about its overall quality. These vehicles will often have an extended warranty, financing, and other benefits for you to enjoy.
3. Lower Insurance Costs
A third benefit you can enjoy with a used or certified pre-owned vehicle is that your insurance premium will be cheaper than that of a new vehicle. The depreciation has already occurred on them, as mentioned above, and so insurance companies won’t have what is called “gap insurance.” That’s insurance that covers the gap between the vehicle and its depreciation value in the event of an accident.
These are just three reasons why you should consider purchasing a used or certified pre-owned vehicle instead of a new one! To learn about what pre-owned vehicles we offer you, please contact our agents today!