N. Sai is an expert in dealing with automobile related matters. He has contributed several informative articles on topics such as used cars and auto loan to webguides - http://www.getbestcars.com and http://www.autoloanguide.info
There are both advantages and disadvantages involved in buying used cars. It all depends on the person’s capability to negotiate, his knowledge on buying a particular make or model of the used car and the sources from which he can buy the used car. The preference, affordability and needs of the car purchaser also matter a lot.
Key Advantages of Used Cars:
Many people buy used cars just for the reason that they can afford to buy one. As any brand new car loses value on depreciation as soon as it hits the roads, so it is possible to get a low mile run used cars for a very less amount compared to its new counterpart. Also it is possible to get the dream car of the purchaser with all the necessary features at a very low price provided the purchaser has to be patient and look for the car of his choice from various sources. It is possible for the purchase to buy a used car even up to half the price of purchasing a new car.
There is a wide range of models, brands and colors available for the purchaser to buy a used car. Good quality cars are available when purchasing an off leased used car as they are maintained very well, handled by a single person and are available with an impeccable look with all the built in features. Also, nowadays it is possible to even transfer the factory warranty of the car from the previous owner in case the car is within the warranty period.
Used Cars: Major Disadvantages:
The interest rate on the purchase of the car matters a lot. In the case of buying used cars the interest rates are a bit higher than on the new cars as it involves more risk for the lender while giving loans on used cars. Also there are zero percent loans and financing readily available more for new cars than for the used cars.
There is no guarantee or assurance offered to the purchaser when buying a used car as to whether the car is in good condition or with the right mileage. Also there is no guarantee that the car is maintained properly and is free from any kind of accidents. There may be problems in the engine of the car or with the transmission which can be far from the sight of the purchaser of the used car. Sometimes the purchaser may end up spending more money on the maintenance of the used car than he would have spent on a brand new car. In such cases the purchaser loses his peace of mind with the never ending problems caused by the car.
When buying a used car, the purchaser needs to be very knowledgeable about the car itself. He should thoroughly go through the car’s history, maintenance records, terms and conditions, paperwork etc. If not, the purchaser may end up with great problem which may last for ever.
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