Why Buy a Pre-Owned Vehicle Instead of a New Vehicle?

Although the majority of buyers know from the start of the purchase process whether they will opt for a new vehicle or rather go with a pre-owned model, others are hesitant. Regardless of your situation, be aware that there are many advantages to turning to a pre-owned vehicle when the time has come to replace your current car.

Like many other decisions related to buying a vehicle, the right option for you depends on your needs. In some cases, a new vehicle will be a better option, but in others, it is possible to save a lot and get more for our money by going with a pre-owned vehicle.

Avoiding Depreciation

To begin with, it's no secret that new vehicles lose a certain percentage of their value as soon as they leave the showroom. This loss of value is called depreciation, and it usually takes four or five years before it no longer becomes a financial consideration. In the case of a pre-owned vehicle, the depreciation is already included in the reduced price we pay.

Obviously, the reduced price of the pre-owned vehicle takes into account the fact that it has already been driven, but the fact remains that a portion of the lower price also includes depreciation, especially if we are talking about a vehicle that is less than 3 or 4 years old. The good news is that depreciation does not affect the quality of the vehicle.

Moreover, since the price of a pre-owned vehicle will always be less than a new vehicle, it is possible to get more equipment for the same monthly amount. For example, suppose you have a $25,000 budget for your next vehicle. This amount for a new vehicle will allow you to buy a compact sedan or a small SUV with the right equipment, while on the pre-owned vehicle side this amount will allow you to buy a larger, or more luxurious SUV, or even an entry-level luxury sedan.

To learn more about the many other benefits of buying a pre-owned car, contact us today at Grenier Occasion.