Thinking about buying a used vehicle? Purchasing pre-owned provides numerous advantages including lower initial costs, slower depreciation and even lower taxes.
New vehicles depreciate the minute driven off the dealership lot. On the other hand, used vehicles tend to depreciate at a much lower rate. Picking a vehicle with a high resale value and solid reliability ratings can help retain your vehicle’s value even more.
Lower Initial Costs
Used vehicle are generally much more affordable compared to their new counterparts. Certified pre-owned is another option if you want more piece of mind since vehicles need to pass a multi-point inspection.
Sales taxes tend to be more affordable when buying a used vehicle because the overall cost is lower. Some states even waiver sales tax if the used vehicle is purchased from a private seller.
Lower Registration Costs
Registration costs are generally based on your vehicle’s value and its year. Costs are generally highest when the vehicle is brand new and drops as the vehicle ages.
Cheaper Car Insurance
Used vehicles tend to have lower auto insurance costs. Check with your car insurance company first before making a final decision and ask how much it cost to insure one vehicle versus others you may have in mind.
More Bang For Your Buck
Buying used may enable you to purchase a vehicle with more luxury amenities or a higher trim level compared to buying new. A used luxury vehicle may end up costing less than a brand new vehicle from a mid-range brand.
The used vehicle market offers significantly more variety compared to the number of new vehicles on the market. If you’re looking for an antique or model that is no longer being produced you’ll want to opt for used.
View our inventory of used vehicles in Chesapeake, VA below.