Arguably the biggest perk of buying a brand-new vehicle is that new car smell. Fortunately, shopping around for the perfect used vehicle can come with many more benefits than that. Here are some of the main advantages that come with choosing pre-owned Toyota’s instead of brand new.
The Cost Out the Door
The single biggest difference between a new and used car is the price. If you want single-digit mileage, you’re going to the pay the price for it – no other way about it. Any new car is a luxury, whether it is a luxury brand or not. Dealerships have a certain amount of wiggle room when it comes to the MSRP. However, even if you are an expert haggler, their price floor will be thousands higher than the same model vehicle just a couple of years older.
On the other hand, dealers often times are more flexible when it comes to the price of used vehicles. On top of that, the base price starts out lower. That means that with some negotiation, the cost to you can end up much, much lower.
The Cost In the Long Run
In many states, registration fees actually go down the older the car is. Typically, the higher the value of the car, the higher the registration fees are. It’s often something a car buyer doesn’t think about, especially when they’re buying new at the dealer. Those fees are going to the state, after all.
And speaking of value, nothing holds value like pre-owned Toyota’s. Depreciation sets in from the moment a new car rolls out of the dealer’s driveway. How much? According to Trusted Choice Insurance, that new car loses 11% of its value as soon as it leaves that lot. For a $30,000 car that’s over $3000 before you even drive the thing home. A used vehicle does not experience this depreciation immediately after purchase, and in fact depreciates at a much slower pace overall.
More Buying Options
One of the most underrated benefits of used car shopping is the size of inventory. This is because models are available from nearly any year. It’s true that it might take a little bit more shopping if you have your heart set on one specific model, trim and color. However, if you open your options up to a few different years, the odds of finding that perfect used car get much greater.
On top of that, it can be incredibly expensive to add trim upgrades to a new car. A used vehicle can feature all of the bonus add-ons that a brand new car has, and at a fraction of the cost, too.