3 Great Benefits of Buying a Used Car

December 12th, 2014 by

Benefits-of-Buying-Used-Cars

Used cars have always had a bad reputation among car buyers. Many seem to believe that anything other than a new car is an extreme risk for problems. But as a Buy Here Pay Here RI dealer, Shannon Motors has an incredible selection of used cars with low mileage that provide great savings and reliability for buyers.

With leasing becoming a financially-beneficial move for many new car buyers, used car buyers can benefit from a wide selection of cars with less than 50,000 miles.

What are the other benefits of a used car?

  • Lower Insurance Costs — When you trade in your old car for a new car, depending on your purchase, your insurance could easily double or triple in cost. Over the course of the three years it could take for your premium to reduce in price, you could be paying thousands extra just to insure your new car.
  • Reduced Taxes and Registration — New cars come with all sorts of hidden fees and taxes that most new car dealers won’t tell you about until they’ve got you sitting with a pen in hand. On top of that, registration and inspection for new cars can cost over $500 in some states.
  • Less Depreciation After Purchase — While new cars can lose upwards of 33-50% original value over the course of the first three years of ownership, used cars that  are at least 3-5 years old will avoid the extreme depreciation new buyers face. This means that if you end up trading your car in or selling it privately, you’ll have more cash in your pocket to put toward another vehicle.

If value is what you’re after, a used car will provide more for less across the board when compared to a new car. Car-buying is always a risk, but with the increased availability of low-mileage vehicles, finding a great used car is easier than ever.