When you are looking for a used vehicle, you have a huge amount of choice in the marketplace. You also have the choice of buying from an individual, or from a dealer. Both have advantages and disadvantages. Here are some points to consider when you go to buy your used vehicle:
Benefits of Buying a Used Vehicle
- You avoid the initial depreciation you would have if you drove a new car off the lot. This can be as much as 30%.
- A used vehicle is cheaper and the quality of vehicles today is high.
- You have a bigger selection of vehicles to choose from since you widen the selection due to reduced cost.
- You save money on insurance since your vehicle costs less to replace.
Benefits of Buying From a Dealer
- Negotiations are on a more business-like level since there is no emotional attachment to vehicles at the dealer. Buying from the owner is just the opposite.
- You will have some consumer protection. Certainly, the dealer will want to maintain their reputation in town and will want to give you good service for this reason alone. You still need to check your dealer’s reputation.
- Some dealers offer a Certified Pre-Owned program where you can get a more expensive vehicle with better inspection and warranty.
- Dealers will be able to provide extra services like loans, and ongoing repairs.
- Most dealers offer you the option to trade in your current vehicle. There is no longer a tax advantage to selling privately so this can be a nice option to have and offer you a lot of peace-of-mind. Unless you lie on the paperwork, it is unlikely the dealer will ever come back to you on a trade-in.
- Dealers can offer you services like Carproof. However, be aware that not all reports of this kind are necessarily accurate. As in all things in regard to a purchase: ‘Buyer Beware’.
So there you have it — a few tips that may help you in the hunt for your used vehicle. And if you are buying a used vehicle in Victoria, locally driven vehicles have a slight advantage in that our winters are milder and we use less to no salt on our roads.