Why Buy a Used Car?

There’s a lot to think about when buying a car in Salt Lake City: your budget, both for the original purchase and later maintenance and repairs; how far you’ll drive it each day; even things like the paint color and upholstery. If you haven’t considered a used car yet, you should: it can be up to 50% less than a new car and have many of the same perks and features. Some of the benefits of buying a used car can be found on this page.

Avoid Depreciation

It’s a commonly-cited, and sadly true, statistic: new vehicles lose, on average, 30% of their value in their first 2 years of ownership. Even right after you drive a new car off the lot, its value can drop precipitously due to a phenomenon known as depreciation.

Though the mechanisms of depreciation can be murky, one of the big factors is the difference between retail and wholesale pricing. When you buy a new car from a dealer, you pay retail, which includes extras the dealership tacked on. If you turn around and try to sell that same car back to them, they’ll only pay wholesale pricing, which doesn’t include those extras – which can add up to thousands of dollars. There are many other factors to depreciation, as well, but the mismatch between wholesale and retail pricing is a big one, especially with a newer used car.

You can take advantage of a vehicle’s depreciation by buying it used, after it’s already experienced the bulk of its loss in value. After the first few years, used cars slow in their depreciation, stop it altogether, or sometimes, even reverse it – some used cars can increase in value over time! Either way, buying a used car is a great way to get around the annoying issue of depreciation.

Additional Warranties Are Available

Most car brands allow a vehicle’s original new vehicle warranty to transfer to a second owner, meaning that if you buy a used car with one previous owner, you can enjoy the same warranty as they did. In addition, as a used car owner you also have the option to add to the original manufacturer’s warranty or even enroll in special pre-owned warranties, like a Certified Pre-Owned warranty.

Decreased Additional Fees

An extra bonus to enjoy when purchasing a used car is the fact that, because used cars are worth less than new cars, they cost less when being taxed, insured, and more. In addition, you don’t have to worry about new-car fees such as the shipping fee, destination fee, or preparation fee.

Plus, since you’re paying less overall for the used car, you’ll get a better deal on financing: you’ll be able to pay down a greater proportion of the car’s value in a down payment, and you’ll get a better interest rate and probably a shorter loan term.

Buy a Used Car from Seiner Kia Salt Lake

When you’re looking for a used car in the Salt Lake, West Valley City, or Bountiful areas, you need a used car dealer with a wide selection, great deals, and comprehensive warranties. Seiner Kia Salt Lake is the dealer that checks all those boxes, and more. When you’re ready to see what great used trucks, cars, and SUVs we have on offer, stop by our dealership, give us a call, or schedule an appointment online today!