There are many things one has to consider when buying used car. First and foremost is the budget and second is the condition of the wish car one wants to purchase. There are many more things other than condition of the vehicle that are to be kept under consideration.
Let us have a look at the advantages of used car first:
The major advantage of buying used car is that they are generally depreciated. This means they cost way less than the brand new car. Generally steep depreciation of the car starts after the vehicle has passed two-year mark. If the car has not passed two-year mark the price of the car will not depreciate as much as you hope but still you can buy a used vehicle.
The second important benefit that generally comes along with used vehicle is the extended warranty. Many people return their vehicle to the manufacturer or dealerships to trade in. These returned vehicles are then checked and resold after looking at their feasibility and repairing if any. This means that the vehicle have extended warranty as it has undergone repair and checkup.
Third benefit is that used car generally fits into low budget and people who cannot afford brand new car can fulfill their dream of owning a car.
Disadvantages of used cars:
First and foremost disadvantage of of buying a pre-owned car is not been able to know the history of the vehicle. Though VIN can help you in this but that also is not a much efficient measure.
Many people do not tell if the vehicle has been through an accident or they might downplay the accident despite it being a major one. Some sellers also might not tell you the issue that the vehicle have. So without any background of the vehicle, buyers might stuck with a vehicle that costs them much on repairing and other issues.
Another disadvantage of buying a used car is that they are generally paid in full with cash unless the vehicle qualifies for financing. And if the buyer wants to finance it, he has to prove whether he can pay the monthly amortization…