Top 5 Reasons to Buy a Used Vehicle Over New
Buying a car is an exciting process. Despite the stigma of the past when dealing with buying and selling used vehicles, the cars these days are not only built better, they’re lasting much longer than the cars our parents drove around or we drove around in our younger days. With Olathe’s Auto Now dealership and our easy 1-2-3 approval process, hopping into a new to you car takes less time than a traditional dealership experience because we offer everything under one roof. For instance, our financing requires that a customer is 18 years of age or older, holds a valid driver’s license and makes at least $1200 each month. There’s no other hidden criteria. Why? Because we are not a traditional lending institution basing our decision on whether you have good credit or not. We believe if you have a low credit score or a hiccup in your credit history, it shouldn’t prevent you from purchasing a vehicle, which is often a necessity for life.
But to figure out if a used vehicle is for you requires research. Fortunately, our expert team in Olathe is ready to help either over the phone or by visiting our dealership. In the meantime, we’ve put together an article highlighting 5 key reasons to think about buying a used vehicle over a new.
Take a Look at Our Top 5 Reasons to Buy Used
1. Hassle-free financing
At Auto Now, we make the application process quick and effective which means asking basic information, such as questions relating to employment. All types of credit are accepted and approval is fast. We even offer an online application if you’re curious about pre-approval during your research phase of looking for a new vehicle. Typically, the approval process takes just 10 minutes, after which it will remain active for 30 days so long as no status changes in address or employment. Because of this quick process, we are able to find the best affordable option for a car on our lot. Because many customers enjoy paying off their loans sooner rather than later, we offer short term loans. We base your low down payment on your individual circumstances and the vehicle you choose. One of our trained specialists will help you find a vehicle and payment schedule that suits your needs and budget.
2. Large selection of vehicles
Whether it’s one of the 500 cars in our inventory at Auto Now throughout Missouri and Kansas or elsewhere, buying a used vehicle often means a larger selection to choose from. Each year, roughly 350 new models of cars are released. But that number is tiny in comparison to the mass amount of used vehicles that have yet been sold. What this means is there’s an over saturation in the market leading to competitive market pricing and options making the consumer come out as the winner. Many of the cars on our lots and in our inventory online are trade-ins from dealerships. Some vehicles have also been purchased at auction and all vehicles go through a comprehensive inspection to ensure quality and reliability.
An incredibly common and accurate reason why many people prefer to buy used cars is based on depreciation. On average, a new car will lose up to 30% of its value simply by driving it off the lot. Some cars are known to depreciate upwards of 50% within just a few years of being purchased. It’s important to note that while there are benefits to buying a new car, it’s almost not worth the drop in value alone paired with the often difficult traditional financing requirements by institutional lenders.
4.Registration and Insurance
Ah yes, something we often forget when purchasing a vehicle until the deed is done. Insurance and registration costs. Putting it plainly, a used vehicle will typically cost less to insure and will also inquire less registration fees in comparison with a new vehicle. At Auto Now in Olathe, we work closely with the car buyer to be sure their monthly payment is within budget while still finding a car that suits the customer’s needs and wants. We know that sometimes a vehicle’s insurance premium can often break the deal between affordability or not. And don’t forget registration fees which appear annually and is based largely on the estimated value from the make, year and model of your car.
Competitively priced used car dealerships like Auto Now in Olathe make finding affordable vehicles easy through our inventory and buy here, pay here program. But as a used car buyer, before visiting any dealership, it’s important to do you research. And there’s no type of vehicle with more information and data than a used vehicle. From companies to independent reviewers to everyday forums run by everyday people, finding information on a used vehicle has never been easier. While some reviews can be subjective, it’s important to note the source and understand the incentive behind reviews.
Ready to find your next used vehicle at Auto Now’s Olathe location? Use our online application. to get pre approved before visiting the lot. It’s important to keep in mind the options available to you through this process and be sure it fits within your budget. Auto Now continually works with people who are trying to rebuild their credit after credit issues and our in house financial team is here to help through our buy here, pay here program. When you’re ready, come visit us!