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The Benefits of Opting for a Used Car | Car Loans Canada
10 October

The Benefits of Opting for a Used Car | Car Loans Canada

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Car Loans Canada

There are many good reasons why countless people opt for used cars every year. While there is no denying the fun of sitting in a new car, a used car has much to offer and can, in fact, offer some benefits that a new car can never match. Are used cars a good fit for you? Just take a look!

A Used Car is an Easy Way to Save Money?

When you buy a used car, you know that someone else was responsible for the considerable depreciation that goes along with buying a brand new car. You have probably heard at some point that a new car loses value as soon as you drive it off the lot. This is why many savvy consumers often opt for a slightly used car instead of a new one.

Approximate Depreciation Rate on New Cars

First Year Value Loss Second Year Value Loss Third Year Value Loss
15%-20% 15%-20% 10%

It is possible to save a good deal of money by selecting a used car with a few hundred or a thousand miles on it. This cost savings benefit of used cars is difficult to argue with. It stands as one of the key reasons that so many people purchase used cars annually.

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Yes, You Can Have Your Cake and Eat It Too!

Since it is possible to buy a used car and still have a warranty, used cars stand as a great option. To be certain, new cars have their merits, but the fact that consumers can still make use of a warranty and enjoy the cost savings benefits of purchasing a used car is a winning combination.

While you may not be able to easily customize a used car in the same way that you can with a new car, this is a minor issue for most people. This is especially true when viewed in light of the cost saving benefits that use cars can offer.

Used Cars Means Lots and Lots of Options for Today's Consumers

An additional benefit of used cars has to be selection. There are an abundance of different used car options in virtually every make and model. Thus, consumers can enjoy cost savings, still have a warranty and even have great diversity in their choices of cars. What's not to love?

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