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When looking to purchase a car, there are many things to consider, but buying a used car can make the process much simpler. With all of the great reasons to buy a used car, affordable pricing has to be one of the best perks. Here are some of the benefits of owning a used car.
Yes, it’s true! Used cars have little to no depreciation when driven off the lot. New cars lose most of their value in the early years of ownership; in fact, buyers can expect a new car to lose up to 50% of its value within three years. That’s a serious rate of depreciation.
Why is depreciation so important? When a buyer is purchasing a new car, they are paying the retail price which may include an additional price by the dealership on the MSRP. If the customer returns the car that same day, the dealer will only pay the wholesale price. More than often the difference between those prices is thousands of dollars.
When it comes to purchasing a used car, the process is much simpler and easier to finance because of the smaller loan amount. At Fabre Automotive, we will help you every step of the way. Our finance department works hard to get you the best deals. Even if you have a low credit score, the dealership can use its position with lenders to get you approved for financing.
Warranties are one of the most important factors in buying a used car. Luckily, many used cars have one. Dealers can offer a warranty on used vehicles by allowing the original vehicle’s car warranty to transfer to the new owner of the vehicle. After only two years of ownership, if the car is sold, the second owner can now get the benefits of the warranty from the remaining years. Used car buyers may also have the option to add an original manufacturer warranty or special pre-owned warranties that cover even more longevity.