Most people have different priorities and preferences when it comes to buying cars. Others view vehicles as a way to move from point A to B while others, who are financially challenged, value the low cost of the vehicle. There is a wide range of choices that are available for you when it comes to purchasing a car. You can pick the model you want and also decide on whether you want one that is used(preowned) or new. For used cars, they can either be local or foreign. Some people choose to import cars from different countries. You can buy a car in Nigeria as there is a vast selection from which to choose. It is important to note that buying a car should not be considered as an investment, and the decision you make will profoundly impact your finances. We highlight the advantages of getting a used car and factors to consider when buying it.
The pros of buying used cars
- Saves you money
The price of a used car is almost 50% lower than that of a new one. With the low cost, you can save up and pay cash, pay it off within a shorter period, and also choose the model that performs well.
- The bulk of depreciation has already occurred.
The original owner takes the most significant depreciation of the car. A car depreciates as soon as it is home. Used vehicles can either gain value or get sold at the same price it was bought, which is a great advantage.
- No exaggerated fees
Many new vehicles have hidden costs or fees, which include shipping costs, destination fees dealer preparation, and even advertisement fees. Used cars have no hidden charges. The only thing that you might be charged for is documentation fee.
- Low customization costs
Most new cars come with add-ons like a pinstripe, protective film, and anti-rust coating. They make the purchase price to be high, unlike in used vehicles. Other than spending so much money buying a new car, you can choose to install your own according to your liking. You can quickly get your add and from an aftermarket installer at a lower price.
Cars bought through a manufacturer certified pre-owned program comes with a warranty that covers three years on average. It is vital for you as a buyer as it enables you to know that the manufacturer has inspected the car and it meets its requirements for certification
- Cheaper insurance premiums
The insurance rate is usually lower for used cars than that of new cars. You can save money on auto-insurance, registrations, and tags. It is cheaper to insure used cars as they are cheaper to replace.
Factors to consider when selecting a used car
- Do your research
There are very many brands of vehicles available in the market from which you can choose. All these brands have sub-categories making the scope even wider. Research on the brand you want, know its advantages and disadvantages, and also the price range.
It is an essential factor. When buying a car of your dreams, you need to have a set budget and adhere to it. The point is to get a reasonable price for a car that meets your needs. You need to have a clear plan on how you will pay for it, whether you will save or consider taking a loan. The budget also helps you to narrow down your search. Consider all the options available and also the add ons existing in the automotive industry as this too might affect your budget. Compare prices at various dealer shops and make the best decision.
- Availability of spare parts
A car whose spare parts can easily be acquired at local garages and shops is the best to purchase and also less stressful. Also, you save on money as you don’t have to import parts, which are quite costly to fix your car.
It is very beneficial for you to choose a car that meets your needs or matches your lifestyle. You should ask yourself questions like; why do I need the car? Is it leisure, sport, a business car, a family car? Do I need more space? etc.Practicality is, e.g., and if you have a big family, a sports car is not efficient. An SUV would do, and vice versa.
- Test drive the car before purchase.
Always go for a test drive before buying it. Drive the car to see how you connect with it or carry with you an expert who understands more about cars and who you can trust to give you an honest opinion.Check the interior,mirrors ,engine,bodywork.When driving ask yourself these questions such as;
- Are the seats comfortable?
- How does the pedal feel?
- How is the steering wheel?
- How is the visibility of the mirrors?
- Is the car imported or locally used
Imported used cars may take longer to get cleared at the port authorities. Locally used cars come at a high ownership cost. If you are not patient enough for the import to get cleared, you can choose to buy locally but keeping in mind the price difference.
- Vehicle history
It is crucial to check if the used car has a car ownership history. Scan the interior and body of the vehicle, but this might not be enough. You can find websites that provide history reports of cars showing proof of damage, mileage, odometer, reading, and title information.
- Pre-purchase inspection
A complete mechanical inspection is crucial. You can get a trained mechanic to carry out the inspection. The car should be examined thoroughly in the interior, exterior, under the car, and the hood. A filled out pre-purchased list can be used to ensure no step is missed. It is essential not to miss this inspection because it can uncover some problems, especially under the hood.
- Certified pre-owned vehicle
It assures you the right quality vehicle. If certified, it means the car is covered still under the manufacturer’s warranty. In a case where it is no longer covered, you can buy an extended warranty. It will extend the term of the original warranty. Look into the warranty thoroughly, taking note of the language used and also signs.
You need proof of insurance before buying a used vehicle. Some insurance companies allow you to transfer your current insurance coverage to a different car for a short period. So before closing a deal, ensure you get car insurance quotes for you to know your payments.
Owning a car can be a challenging and exciting experience. Take your time identifying the vehicle that suits you, acquire background information about it, the purchase it. You can also check out reviews by other buyers on different car models on yeebia.