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The good and bad of pre-used cars

Atasa Moceituba
Saturday, October 28, 2017

THERE are number of advantages to buying second-hand cars, and there are also disadvantages.

When making the decision to buy a second- hand car it is important to do your research and carefully consider both the pluses and minuses.

Here are things to look by website www.carfax.com when buying a second-hand car

Advantages

* Depreciation- a new car starts to lose value as soon as you drive it off the lot. Unless you are dealing in very high end collector cars, every car you ever purchase will lose value pretty quickly.

When you buy a second-hand car, quite a bit of that depreciation has already taken place so you are buying an asset. While it will still depreciate, it will lose value at a slower rate

* Upfront costs — a new car is generally more expensive than a used one. You will be spending less of your money upfront and may also be able to pay cash to avoid financing the vehicle

* Cheaper insurance- used cars are usually cheaper to insure. You will also often save money on registration and tags.

Disadvantages

Buying a problem — whenever you buy a used car you are taking a risk that you may be buying someone else's problem. While it is not unheard of for new cars to have a large number of breakdowns or problems, you can be assured that the dealer or manufacturer will make every effort to make you happy. If you encounter problems with a used car you are often on your own.

No warranty — a brand new car will come with a pretty extensive warranty. A used car will not offer the same protection. Depending on how old the car is there may be an original factory warranty remaining.

If possible, shop for a certified pre-owned car.

Choice — while their selection of used cars is huge you may not get the exact car you are looking for. When buying new, you can choose all the options and colours.

Tips for buying second hand cars

When buying a second hand car, you have to be careful and vigilant.

You don't have to be a mechanic to find damage done to the car. Make sure that you check the car inside, outside and below

Inquire about the reason for the sale. Most private owners will sell the car when they have a second, better model or when the car has been in an accident.

Second-hand car dealers are more likely to sell you good cars but they might try to cheat you in the form of processing fees and warranties








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