Reasons for Purchasing a Pre-Owned Vehicle in Louisville

When you’re shopping for a car, you have many choices – make, model, color and price, just to name a few. One of the most impactful choices you’ll make, however, is whether to buy new or used. It’s no secret there are pros and cons to each, but for many drivers, buying pre-owned might be more favorable than buying new.

New Car Depreciation

You may have heard about new car depreciation. According to Edmunds, new cars lose about 11 percent of their value as soon as you drive away from the dealership. On average, new vehicles are valued at about 37 percent of what you originally paid just five short years later. So, if you pay $30,000 for a new car, it could only be worth around $11,100 if you try to sell in five years. Depreciation may not be a concern for some buyers. But if you’re interested in using your car as a trade-in to regain a good amount of your investment, it may be better to buy used. It’s estimated a pre-owned vehicle that’s just one year old will depreciate less over the course of three years than a brand new car will in just one.

Buying Pre-Owned is Cheaper Than New

Another reason to buy used is it’s often much cheaper than buying new. This is because used cars have already experienced the brunt of their expected depreciation, so price points are much lower. The savings could allow you to upgrade – the amount you would have normally paid for a new, economy car could be instead applied to a preowned luxury model.

Lower Insurance and Registration Rates

Pre-owned vehicles also cost less to insure. This is because your car’s value determines your insurance rates – the more expensive the car, the more expensive it is to insure. When it comes to registration fees, the state you live in dictates the amount. If you live in Kentucky, you will pay a flat rate. But for drivers in states like Arkansas, Louisiana and Iowa, fees are value- or weight-based.

Pre-Owned Warranties

Many people assume if they buy pre-owned, they won’t have access to the service warranties that come with new vehicles. That’s not always the case! At Neil Huffman, for example, Louisville drivers can take advantage of a twoyear scheduled maintenance plan when they buy used. Certified pre-owned (CPO) vehicles usually come with a manufacturer-backed warranty. These types of used vehicles are only a few years old and have gone through a multi-point inspection and refurbishment to meet the manufacturer’s requirements. They also typically are low mileage and haven’t been involved in a major collision.

Used Cars are Better Than Ever

Another reason to buy used is that pre-owned vehicles are no longer the “buckets of bolts” they’re made out to be, especially if purchased from a reputable dealer. As mentioned previously, CPOs are rigorously prepared to be resold. Even non-certified pre-owned vehicles can last far beyond 200,000 miles if properly maintained. Plus, modern tools like vehicle history reports can take away the guesswork involved in pre-owned car shopping. CarFax and AutoCheck are two leaders in this category. U.S. News & World Report also ranks used vehicles to give you an idea of what might be a smart purchase.

Buy Used or Certified Pre-Owned at Neil Huffman Auto in Louisville

When you’re ready to start the car buying process, look no further than Neil Huffman Auto for quality pre-owned vehicles. Our dealer groups carry some of the largest inventories of used vehicles in the Louisville area. We offer a 24-month or 24,000 miles complimentary service warranty in addition to Huffman Value Pricing on all pre-owned vehicles. There are many reasons to buy used from Huffman Auto. View our online inventory and schedule a test drive today!