Top five tips for buying a Used Car

by October 12, 2015 comments buy used car in Nepal

After home, a car is probably one of the most expensive assets you could own, and most buyers will purchase a car with a view to the future. Buying a new one is definitely more expensive than buying a used car.
On the other hand, a “slightly-used” car – one that’s only around few years old and has under 30,000 miles on it – can help you keep cash in your pocket without sacrificing quality.Should you buy a used car, what are the benefits of buying a second hand car?
There are a number of benefits of buying used car. When making the decision to buy a second hand car, it is important to do your research and carefully consider both the pluses and minuses. There are a lot of Car Traders and Second hand cars for sale like Buymandu in the market, you can easily find one at your convenience!

Mentioned below are the Top Five Advantages of Buying a Used Car:

1. Price
Buying a new car is definitely more expensive than buying a used car. Unless you decide to lease, your initial costs on a new car will be hefty. Financial institutions typically require down payments of at least 10 percent on a new-car loan (but it helps to add more). If you pay less money upfront, your monthly payment will be higher. Two other key considerations may tip the balance in favor of used cars: certification programs and new-car depreciation.
2. Depreciation
A new car starts to lose value as soon as you drive it off the lot. Unless you are dealing in very high end collector cars, every car you ever purchase will lose value pretty quickly. Some statistics suggest that by the fifth year of ownership your vehicle has lost 65 percent of its value. Certain cars depreciate even faster. When you buy a second hand car, quite a bit of that depreciation has already taken place so you are buying an asset. While it will still depreciate, it will lose value at a slower rate
3. Upfront costs
A new car is generally more expensive than a second hand car. You will be spending less of your money upfront and may also be able to pay cash to avoid financing the vehicle.
4. Cheaper insurance
Used cars are usually cheaper to insure. Like financing, insurance rates will be affected by the age of a car, but in this case the used vehicle tends to be less expensive in terms of Registration fees and tags. A little bit of pre-purchase research will save you from insurance sticker shock, no matter which vehicle you choose.
5. Choice/Technology
These days, used car shopping is a different experience than it was in years past. Consumers have a plethora of information and resources right at their fingertips. If you want to know a car’s value, there are plenty of websites that you can get related information from.
You can even find out the experiences of thousands of other car-buyers who purchased the same vehicle you have your eye on. Were others happy with their purchase? Did anyone experience problems with the vehicle? What about the dealer? This information has made it possible for used car buyers to find out more information about prospective vehicle options than ever before.
New cars smell great, but how much is that scent really worth?
By looking beyond the sale price and considering the total cost of buying new, you can get a better idea of how much you are really going to pay for the privilege of being the first owner of your next car.
You might have to spend a little extra time on research, but from the initial price to the long-term costs, you’ll thank yourself for buying a slightly-used car that’s in good condition.