Nine Advantages of Buying a Used Car Instead of New in DFW
Save Money: Tips on Buying a Used Car at Auto Liquidators Plus
Are you looking to buy a new car? While you may be tempted to buy the latest model with all the bells and whistles, there are many advantages of buying a used car instead of a new one. If you’re shopping around the DFW or Tyler area, Auto Liquidators Plus welcomes your business at our trusted used car dealerships. Keep reading to see how you can save money by buying a used car vs. buying a new car while still feeling confident and satisfied about your purchase. We aim to please with our diverse used car inventory!
1. Buying a Used Car Vs. Buying a New Car Saves You Money
Did you know the average used car costs nearly 50% less than a new car? Not only will a used car save you money upfront, but it can also save money in financing fees if you pay it off faster. If there’s a specific model you prefer, do yourself a favor and search for one from a few years ago instead of the latest one. With the rising impact of inflation on most consumer goods these days, it’s refreshing to save money wherever – and however – you can without skimping on quality. Enjoy that lower sticker price on your used car. Most people are ready for a new ride about six years after purchasing a car. These savings can really add up over time, depending on how many vehicles you plan to purchase within your lifetime.
2. Most of Your Used Car’s Depreciation Has Already Occurred
It’s hardly a secret that vehicles depreciate almost as soon as they are driven off a dealership lot. When you buy a brand-new car, it depreciates more than 10 percent just on the initial drive home and up to 40 percent within the first year. Your new car will continue to lose value over the weeks, months, and years ahead. When you buy a used car, you get the peace of mind that most of its depreciation has already occurred. The previous owner bore the brunt of the car’s depreciation, making it a smarter investment for you. Your used car will continue to depreciate but at a much slower rate than the average new car.
3. You’ll Enjoy Lower Car Insurance Rates with a Used Car
Calculating your new car’s monthly car insurance premium should be done before you finalize any paperwork to ensure it fits within your budget. Insurance companies base their premiums on several factors, including your age, driving history, credit score, location, and the car’s mileage and value.
Insurance companies usually charge less for insurance premiums on used cars vs. new cars because their estimated values are less after depreciation. So, buying a used car can save you money each month on your car payments and car insurance payments. Be sure to shop around for the best local car insurance rate during your car shopping experience. Don’t forget to ask about gap insurance, which covers the difference between the purchase price and what the vehicle is worth in the event of a total loss.
4. Many Used Cars Are Still Under Their Factory Warranties
You might be surprised to discover that many used cars are still covered under their factory warranties. Even if they aren’t still under their original warranties, you may be able to add extended manufacturer warranties on used cars. As long as you trust skilled technicians with your auto repairs and quality parts, your used car can bring you many years of reliable service covered by a warranty.
5. Lower Annual Vehicle Registration Fees on Average
Most state vehicle registration fees are based on a car’s value and model year. Newer cars tend to have a higher annual vehicle registration fee within their first three years. If you can find a used car that’s older than three years, you could save hundreds of dollars in annual vehicle registration fees. Used cars also tend to have less expensive sales taxes added to their purchase prices than newer cars.
6. Get More Luxury Options for Your Buck with a Used Car
While you can’t always control the make, model, color, or trim on a used car, you can often get more luxury options with a model that’s a few years older than you could afford on a new car. Perhaps you’ve always wanted a sunroof, leather seats, rust-proof coatings, or a roof rack. These options and more could all be yours at a fraction of the cost, with the car’s overall design and technology being very similar to the newer models. You might even find a luxurious model that’s no longer in production to make you the envy of your friends and family or other car enthusiasts on the road.
7. Avoid Hidden Dealership Fees Often Added to New Cars
There are various hidden dealership add-ons often added to a new car’s sticker price, including dealer preparation and documentation fees, shipping or destination fees, advertising fees, and more. Used cars usually don’t include these hidden fees, which can save you several hundred dollars or even more. Always read the fine print of your sales contract and ask for an itemized list of fees being added to your purchase price when visiting a car dealership.
8. Do Your Research and Buy a Used Car with Confidence
While many people may have had concerns about purchasing used cars in the past, the availability of vehicle history reports online has dramatically changed the game. If you have access to the vehicle identification number (VIN), you can often view vital information about a used car on the Internet, including its accident history, mileage, previous ownership, title status, and more. Buying a used car doesn’t have to be a worrisome affair. If you do your research and visit a reputable used car dealership, buying a used car could be one of the best investments you’ll ever make.
9. Why Choose Auto Liquidators Plus in the DFW Area?
Since 1991, Auto Liquidators Plus has been a well-respected used car dealer in the Dallas-Fort Worth area. For over 30 years, Texans have relied on us to provide a wide selection of pre-owned vehicles at fair prices. We make shopping easy with hundreds of vehicles and five locations in DFW and Tyler.
We work hard to earn and maintain your trust, achieving an A+ rating with the local Better Business Bureau. Whether you’re shopping for a used car, truck, van, or SUV, our in-house financing department makes it quick and easy to get approved for a car loan. Approval generally takes less than an hour, and we’ll work with you to find the best credit solution. Let us help finance your future!
Our full-service service department is here to take care of all your maintenance and repair needs long after the sale. We protect your purchase with a 3-Year or 36,000-Mile Limited Powertrain Warranty, covering the motor, transmission, and drive train with a $100 deductible per occurrence. At Auto Liquidators Plus, we specialize in low-mileage, late-model four-door sedans for your peace of mind.
10. Contact Us for Additional Tips on Buying a Used Car
Auto Liquidators Plus has five locations in the DFW area and Tyler to serve you. Our friendly staff would be happy to provide additional tips on buying a used car or assistance with your selection. Our goal is to help you find a quality ride regardless of your credit situation. Come see us today or reach out with questions. You may also browse our reviews to see how we’ve helped countless Texans just like you!