Buying a car is one of the largest investments for most people.
For some of us, it’s up there beside buying a home or paying for a wedding. As it turns out, you want every penny that goes into such purchases to end up as money well-spent.
On most occasions, people are usually divided between making the decision to buy a brand new car or whether to buy used cars in Houston. Well, a brand new car is nice. It smells new, it’s super clean, and comes in excellent condition.
But you can also enjoy some really awesome benefits if you’re able to find a gently used car in excellent condition. If you’re contemplating whether to buy used cars in Houston, here are some excellent benefits you can expect to get;
Used cars cost far less
than brand new ones
Buying a brand new car no doubt feels good. But as you know, it’s often usually far more expensive. Once you’ve finalized payments and drive off the lot, that brand new car immediately depreciates and loses thousands of dollars in value.
A used car, on the other hand, is far less costly. A used 2006 Porsche today can be gotten for roughly the price of a 2013 Honda car. The car has cost someone tens of thousands but is available today for far less than it initially cost.
Lower depreciation rate
Another benefit you get when you buy used cars Houston TX is the far lower rate at which your vehicle depreciates. Everyone is probably already familiar with the drive-it-off-the-lot depreciation issue. Compound that with the approximate 10% first-year value depreciation and you’ll see why a used car’s resale value can be really better than what you get when you buy a brand new one.
Lower sales tax
So, the state of Texas charges 6.25% as sales tax on the value of your new vehicle. If however, you buy used cars Houston TX, you’ll only have to pay this 6.25% on 80% of the Standard Presumptive Value of the car.
It turns out that you’ll be paying less in sales tax when you buy used cars in Houston vs when you’re buying a brand new one. And because most people are usually fixated on costs and value, this seems like an advantage most will like.
Fewer costs of insurance
When insuring your car, there is one major factor that is central to how much your costs will be. And this is none other than the market value of your car.
Because a used car is worth far less than a brand new one, your insurance costs will also be much lower. Along the line as the car ages and drops in value, you can also reduce your insurance coverage and end up saving more money along the way.
As it stands, there are a lot of cost-saving advantages you stand to get when you buy used cars in Houston TX. The bulk of your work, however, will be finding a credible dealer as well as a vehicle in excellent physical and working conditions.
With these out of the way, you can continue to enjoy your new ride without any serious worries.
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