Why Buy Used Chevy Instead of New
You were looking at a used Chevy when you spotted a row of new Silverados. You’ve recently started a new yard care business and need a Chevy truck to help haul tools. But as you eye the new truck’s chrome finishes and shiny paint you wonder what’s better: a new Chevy truck, or used?
“New would be great, but I’m not sure if I can afford that.” Buying new or used is a hard thing to decide. Read on to see why it might be best to choose a used Chevy over new.
Buy a used Chevy that’s 1-3 years old. By then the car has already lost the largest chunk of value it can lose.
Edmunds.com Senior Consumer Advice Editor Phillip Reed is a HUGE fan of buying used. He explained his reasoning in a Bankrate article. One reason he mentioned is depreciation. While a new Chevrolet is great, the moment it’s driven off the lot it loses 20% of its value. Another 10% is lost during the car’s first year of ownership. This happens no matter what car you buy.
Let’s say you decided to buy a 2019 BMW X2 Sports Activity Coupe. The price was $38,400. By the end of the first year that prized car would lose nearly $12,000 in value. Without even doing anything other than driving to work, that car is now worth $26,400.
So how can you avoid this huge dip in value? Buy a used Chevy that’s 1-3 years old. By then the car has already lost the largest chunk of value it can lose. Not only that, but when a car is around 2 years old depreciation evens out. So you could buy a 2-year-old used Chevy and sell it without a lot of loss in value.
Lower Insurance Rates
New cars can be amazing. They have all the latest features you could want… and an insurance rate you don’t.
Insurance companies know that if anything happened to your new ride you’d want that covered. So your rate will rise to match that coverage.
However, if you buy a used car your rates won’t be so high. According to Reed, you could even drop collision and theft from your policy depending on the car’s age.
Cars today last much longer than they used to, with some even reaching well over 200K miles.
Lower Registration Fee
Buying a car is fun. Whether it’s new or new to you, nothing beats that exciting feeling you get from driving your new car home. That is until you pay the registration fee.
See, in many states, a car’s registration fee is often based on sale price. Buying a new Silverado could meaning paying Uncle Sam more to register it. But since a used Chevy usually costs less than a new Chevy, the registration fee is not so high. So if you want to save on fees, consider a used Chevy.
You Get More Car
As we talked about in the paragraph above, used cars – including a used Chevy – are bound to cost less. And while that’s a huge reason to consider a used Chevy, there is another cost-related reason to go with used.
Because a used Chevy costs less, you have a better chance of affording the features you want. Like, say you need a double-cab or crew cab and a back-up camera? In a new Chevy that might cost more than you can afford, but in a used Chevy, those features could be easily affordable.
Not only that, but cars last a long longer than they used to. Back in the ’60s many bought another car when theirs reached 100,000 miles. Cars today last much longer, with some even reaching well over 200K miles. So you could get a used Chevy and use it for about as long a new car.
Not only are used cars lasting longer, but they’re also looking newer longer, too!
See, decades ago cars completely changed each year. Until the new year’s model came out there was no telling what it would look like. But today’s are much different. While each year’s model does get upgrades as needed, the overall look stays the same. So you could drive home with a used Chevy that looks so clean people will mistake it for new.
Know the History
One of the biggest fears about buying a used Chevy is the car’s history. How do you know you’re not inheriting a bunch of problems? For all you know, the last owner could have thrown the keys at the dealer and yelled, “Good riddance and good luck!”
While that might have been true in the past, this is no longer the case. First, dealers always inspect any used cars they plan to sell. Second, there are many websites you can use to get a detailed report of any car’s history. Two such websites are Carfax and AutoCheck. All you have to do is put in some information (like the car’s VIN number) and you’ll get a complete history report.
There’s even an inspection service that will drive to you! It’s called Prevent a Lemon. This service will come to where the car is and give it a complete inspection and you peace of mind.
Contact Dan Cummins to See Our Used Silverados Today!
Why Buy Used Chevy Instead of New | Dan Cummins Chevrolet & Buick – Louisville, KY