The Advantages of Buying Used Cars in OKC
For most people, a car is the most expensive purchase they'll ever make, other than the home in which they live. Buyers can find bargains sometimes, but it's not just the sticker price that makes a new car a not-so-good buy. Fees and depreciation can take thousands of dollars away from that new car's value, but a used car with under 30,000 miles can help drivers save without giving up too much in terms of quality.
Used Cars Have Less Depreciation and Lower Prices
Most people know that a new car drops in value by several thousand dollars the moment it's driven away from one of the car dealerships in OKC. That's why used cars are such a bargain; it comes down to being the original buyer who absorbed the cost of depreciation, or the second buyer who saved that amount over the purchase of a new vehicle. By buying a car that's a couple of model years old, buyers will still deal with depreciation, but it will be less.
Sales Tax
Many new car ads gloss over the tax implications of such a purchase. Most states' laws require sales tax on new cars, but not on used vehicles. Dealer-added sales tax can be in the thousands, and buyers shouldn't underestimate the savings that can come with buying a used vehicle.
Lower Registration Fees
In most areas, annual registration costs are based on the model year and value of the car. The rate of decline is high in the first three years after purchase, and it tapers off after about five years. If a driver lives in such a state, they can save roughly $1000 in registration fees by choosing a car that's three to five years old.
Extras
Add-ons such as pinstriping and window tint are common, but buyers who want these extras can easily get them done on the secondary market. Extras like these don't add to a vehicle's resale value; a person buying used may not get everything they want, but they won't pay for things they don't need, either.
New cars feel and look great, but how much are they really worth? By evaluating factors other than sale price, buyers can get a more accurate idea of how much they're paying for the privilege of being a car's first owner. Research may take time, but in most cases, buyers can save by buying used cars OKC in great condition.
