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4 Benefits of Buying Used Cars

4 Benefits of Buying Used Cars

For some, buying a car can be an intimidating process. It’s a big investment of time and money, especially if you are looking at new models. However, at Automatic Car Credit, we’ve seen lots of individuals and families drive away happy with their purchase, even if the vehicle wasn’t fresh off the market. Here are some of the benefits to consider for buying used cars:

used cars

Lower Prices

One of the biggest appeals of buying from used car is the smaller price tag. Car value drops significantly after it’s been purchased, which means you can often find quality used cars at a much lower price than what they would be if you tried to buy them right off the market.

Reduced Insurance

Car insurance is one of the most significant financial factors that go into buying a new car. However, when you shop used cars, the insurance value goes down. In some cases, even a few years of use can slash the insurance premium half. For even bigger insurance savings, you’ll also want to be on the lookout for used cars without an accident history since this not only affects insurance costs but depreciation rates.

Lower Interest Rates

Used cars already come with a smaller base cost than newer models. That means that many times, the used cars that you find will also come with a lower interest rate. Even so, make sure to still do plenty of research going in, since interest rates have a significant impact on your monthly payments. With the right purchase, you can save yourself a considerable amount of money and stress when taking out a loan.

Less Depreciation

Maybe you are looking for a car, but don’t plan on keeping it for long. When you buy used cars, you don’t have to worry about such a steep drop in depreciation rates. When you go to sell it later, you’re more likely to earn close to the amount at which you made your original purchase.

At Automatic Car Credit, we don’t just sell used cars. We help customers find the perfect vehicle to match their needs and their budget—regardless of credit score. We can get you approved in a matter of minutes. Visit our website to learn more.

Sources:

https://news.maxabout.com/cars/5-benefits-of-buying-a-used-car-2/

https://www.trustedchoice.com/insurance-articles/wheels-wings-motors/car-depreciation/

https://instamotor.com/sell-car/car-value/how-much-does-a-car-depreciate-after-an-accident

https://www.crediful.com/average-interest-rate-for-cars/

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