Why You Should Buy A Used Car



During these global pandemic and uncertain times, automotive leasing and purchasing has been optimistic, for some, and opportunistic for others. One constant return that has been beneficial in regards to money and big savings comes in purchasing a vehicle. However, not just purchasing or financing for ANY car, but for used cars. Buying a used car has more benefits and perks for the consumer at this point in time. Due to the unique financial situation that the world is left in, this has created a perfect storm of opportunities and possibilities for automotive sales and purchases. If you have been thinking about upgrading your vehicle to another make or model, there are some great reasons why NOW is the best time to purchase a new vehicle.


Inventory


Essentially, since the world has been on pause since around April and May of this year, many companies have gone out of business and consumers have strayed away from making major purchases such as homes and automobiles. This has led dealerships to have much higher inventories than usual due to the economic slowdown of the economy and the downturn of potential customers showing up at brick-and-mortar dealerships. With all of this taken into consideration, this problem translates into plenty of options for makes, models, styles, trims of cars for shoppers and prospective purchasers.


Interest Rates


Receiving an automotive loan for a used vehicle is much cheaper and easier RIGHT NOW thank it has been for several years. With low interest rates and other discounts that dealerships are offering, purchasing your next used car, truck or SUV will cost less if you plan on financing the automotive and making the monthly payments over a five or six year period. Certain loan officers and lenders also make considerations for applicants who are out of work for a few months while allowing them grace payment periods.


Incentives


Since dealerships want to increase their revenues and sales to make up for the lost amount of earnings due to the restrictive quarantine months, employees and team  members may be more inclined to offer large incentives and discounts to buyers for a used vehicle. Certain stipulations may include cash-back rebates, extra options added to a vehicle or lower interest rates per month are just a few examples. Other dealerships can offer add-on program plans such as free gasoline for a year or free maintenance options at the dealership. In all, these initiatives are made to make the used automotive more attractive and enticing to purchase. 


Deferred Payments


Dealers and dealerships understand the hardships and tough times that many citizens are going through. Knowing this, a handful of dealers have offered customers 'deferred payments' as a method to get them into a newly-purchased vehicle.These only cover a few of the specials that we may offer. Customers and prospective clients who are currently out of work would be able to take advantage of such deferred payment options which allows them to replace their vehicle(s) without having to put any money down. A number of these deferred payment programs work to help individuals who aren't able to bring home a full paycheck due to the global pandemic that is going on. Once things start to get back on track and regular paychecks start coming in, their automotive payments will then begin. 


Maintenance & Repairs


When purchasing a new car, it does NOT mean buy just a 'hunk-of-junk'. There are a variety of quality pre-owned, used cars and trucks that offer start-of-the-art features and specifications. At times, many individuals allow a multitude of research materials and information to sway their thoughts on the reliability and durability of a car. Make sure to choose an automotive wisely as a new car is not guaranteed to never break down or need repairs. A big plus is that it is still cheaper for maintenance and repairs on a used car than it would be purchasing a new vehicle.

Registration Rates



Typically, older cars often cost less to register. Sure, some states charge the same fee across the board no matter what make or model your vehicle is, but other states vary the registration fee based on a car's: age, weight, power, etc. Purchasing a used car will NOT save you money on registration if you reside in the state of Missouri, the registration fee increases with the number of horsepower associated with your automobile. States like Montana structure their registration fees based on the car's age. Many states also charge yearly taxes, which is also based on the age of a car or truck. 


Vehicle History


A vehicle's history report may sway you into believing that not all cars 'last longer than ever!' With the emergence of CarFax and AutoCheck, shoppers and prospective purchasers can have a peace of mind when considering their next vehicle. These companies offer vehicle history reports which rely on their corporate sources to provide accurate, up-to-date information and data about an automobile. These vehicle history reports cover a list of incidents such as: vehicle ownership, accidents, repairs, etc. A good rule of thumb is that a bad, incomplete history report can save you or another individual from buying a bad car. Nonetheless, a good vehicle history report does not render any independent inspections or repairs unnecessarily. Make sure to use proper knowledge and wisdom when deciding and choosing the next make and model of your used vehicle.