Many people are opting for cars to commute to different places. Selection of a car represents a person’s style, taste, character and economic status. Depending on the financial status, some people buy newer cars or some people buy used cars. The people who want to buy used cars may have various reasons like they wanted to save money, and choosing a certain car model which they would not afford to buy. Like other cars, buying used cars too will have some pros and cons.
Pros:
- Less expensive for smaller vehicles compared to the bigger cars. Therefore people can afford the smaller cars.
- Ownership expenses and collision insurance and taxes are lower.
- It will have all equipment.
- A used car would allow you to purchase other accessories such as air conditioning.
- There is no depreciation in the value of used cars.
- You have to pay less to insure a used vehicle.
Cons:
- If you are not knowledgeable enough, the dealer distracts you and you end up paying more than worth.
- Legal protection is limited.
- Reliability problem exists in late model cars.
- For used cars, there is either closer warranty time or no warranty at all. As years pass on, you have to spend a lot of money on repairs.
- A car with a great history can also be a risky when it was abused by a previous owner.
- Interest rates are higher on used cars.
- There will not be any latest safety features in the past used models.