Skip to main content

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!
Labels:

Comments

Post a Comment

Popular posts from this blog

Are you a Volkswagen fan? | VW Collectibles

VW Fan? Volkswagen Collector and Fun Items Volkswagen has two of the most iconic and well-known vehicles ever manufactured: the VW Beetle (also affectionately known as the “Bug”) and the VW Bus. Unfortunately, the end of the road has come for both beloved vehicles (for the moment…) After 80 years, the end of the Beetle is drawing near. Volkswagen recently announced that it will end production of the Bug . Volkswagen will release to last models of the Beetle, the Final Edition SE and the Final Edition SEL in 2019.    A 1960 version of Doyle Dane Bernbach (DDB)'s "Think small" ad. VW The last Volkswagen Bus was manufactured in 2013, but in an exciting turn of events, Volkswagen is resurrecting a NEW version of the Microbus in 2022 ! The new Microbus, the I.D. Buzz, will be powered by an all-electric drivetrain. We’ve found that people who are Volkswagen fans are really Volkswagen fans. And people who are passionate about the Beetle and the Bus are...
Post a Comment
Read more

Five Reasons to Buy an Acura in Louisville, KY

Image from: https://www.acura.com/ilx/gallery Honda is one of the most well-known auto brands, with models like the Accord and CR-V named among the top 10 most popular vehicles to drive by J.D. Power. But many people may not know that Acura, Honda’s luxury brand, is just as beloved, and for good reason. It has received countless awards since its debut in 1986 as the first Japanese luxury car brand in the U.S. Today, Acura’s lineup includes six models which carry the same reputation for quality and safety as Honda vehicles but with upgraded features that set them apart. Here are five reasons to consider buying an Acura. Lower Price Than Comparable Vehicles Brands like Audi, BMW and Mercedes may come to mind when you think of luxury vehicles, but they also come with hefty price tags. For example, the 2018 BMW X3 crossover starts at over $43,000, while the comparable Acura RDX starts at just $36,000. The RDX comes with a slew of standard features , such as dual-zone clim...
Post a Comment
Read more

How Subaru Driver Assist Technology Keeps You Safer

Subaru EyeSight® Driver Assist Technology: How Subarus Can Keep You Safer On The Road Subaru has long been a leader in car safety systems, particularly those that allow the driver and passengers to be safer in a collision. Today most car buyers take crumple zones, safety belts, airbags and anti-lock brakes for granted, but overall safety features of a car are still a priority for most people. However, the focus is now shifting from what happens during and after an accident to preventing accidents from happening in the first place. According to a Consumer Reports article, in a national survey of U.S. drivers that plan to buy a new or used vehicle in the next two years, 51% said it was very important for their next car to have a rearview camera or backup warning , and 45% said they wanted a blind-spot warning system . It’s clear that these types of preventative safety measures are an important factor in new car purchases. Subaru’s latest driver safety systems go well bey...
1 comment
Read more