Lower prices and excellent quality are just some of the characteristics of pre-owned cars. You can drive a great car and have more cash in your pocket than if you had bought a new one!

Here’s why buying used cars is one of the most intelligent financial decisions you can make.

• Your money is worth more over time

Unlike new cars, the cost of buying a used car is significantly lower.

Why is that? It’s a bit more complicated than just “because it’s not new.”

A disadvantage of buying new cars is that they lose 40% to 60% of their value within the first 4 years of use. Putting it into perspective, if you buy a new car for $50,000 and try to sell it years later, you would have to sell it for $30,000 at the most.

If you, later on, decide to sell a used car you purchase, it will only decrease its cost value between 10% to 20% depending on the years you use it. A much smaller percentage of difference will make you lose much less money.

Following the previous example, those $50,000 would be $40,000 at the least by the end of it.

• Better financing and insurance options

When requesting a quote for insurance and loans, lenders will define the value of the car considering the price at what you bought it, not the price it used to have when it was new.

Naturally, if you buy a used car, the cost of these services will be lower for you than what it originally was for the previous owner. This means having higher chances that your down and monthly payments will be more affordable than those with new cars.

This is something that the financiers at House of Cars know very well! Our financing plans for used vehicles have affordable monthly payments that are also adapted to your budget.

• More money available in your pockets

Buying a used car means saving money from the moment you buy the vehicle and even paying for financing and insurance costs. Now you can enjoy the extra capital that you will have available!

By having lower monthly costs, you can enjoy your car while saving that extra money to plan an incredible vacation, prepare yourself financially to buy your next vehicle or just have some savings in case of emergency.

• Your next step into taking a significant financial decision

Now that you know all the financial advantages of buying a used car over a new one, it is your turn to take the next step!

To make the most of your money, you should start looking for dealerships that offer used car models that meet quality standards, competitive prices, and financing options.

You can find all of this at House of Cars Calgary. Wait no more, call our experts today!