The most widely asked question is whether to buy a used car or not? There is nothing terrible is purchasing a used car. Used vehicles are best for families who are on a budget, and it can save them several bucks. It is believed that used cars of great value, and they last longer.
Apart from saving money, there are other reasons why people prefer buying a used car;
1- To reduce insurance costs
The critical factor in determining the cost of auto insurance is the value of the car. Since the amount of used cars is lower than that of new vehicles, the cost of insurance should be lower because some elements of auto insurance can be eliminated, more money can be saved.
Like auto insurance, the state-registered car registration fee is usually based on the car’s transaction price. Many states are increasing registration fees to generate more revenue. Second-hand purchases are an effective way to stop growth.
2- More bang for Buck
Stretching your car purchase is another benefit of buying a used car. You can buy more vehicles by purchasing used cars instead of new ones. You may not be able to afford the new luxury car you want, but a new car of two or three years old may be suitable for your budget. Since automakers no longer redesign their models every year, the purchase of used cars is no longer as stigma as it used to be. When a three-year-old BMW appears in your driveway, your neighbor doesn’t have to know that you didn’t buy a new car. It looks like a new product.
3- Peace of mind
In the past, buying a used car was a big deal. It was more like buying someone else’s problem; this is the way some people describe buying a used car. Today’s consumers can minimize risk and save money while avoiding hidden dangers. Companies such as Carfax and Auto Check generate vehicle history reports. These reports are based on the vehicle’s Vehicle Identification Number (VIN) and provide a wealth of valuable information, including mileage verification and whether the insurance company has declared a complete loss of the vehicle. Consumers who are worried about the potential hazards of used cars can also buy certified used cars. Certified used car plans vary from manufacturer to manufacturer, but in essence, certified used vehicles are vehicles that meet the manufacturer’s established standards and have some form of warranty against defects similar to the new car warranty. Second-hand used vehicles offer the convenience of buying a new car, which has never been seen by used car buyers.
4- Minimizing Depreciation
A new car is usually depreciated by about 20%. Most cars will lose 10% of their value in the first year. In the first year of ownership, this meant a 30% loss in value. A $30,000 car lost about $9,000 in value during this period. You can avoid this by buying a used car that is used for one year. He cautioned that it is difficult to obtain a one-year-old used car, but it is getting easier to find used cars for two years and three years.
Also, with the “right” used car, owners can buy, drive, and sell without losing equity. Depreciation tends to be flat; usually, after the second year of the car, the depreciation rate drops and then increases again around the fifth year. Buying something that has been in existence for two years and driving it until it is no longer driving is the most economical way to own a car.
There are numerous places in the UAE where you can find used cars;
- Kargal Used Car dealer in Abu Dhabi
- UAE used Car Market in Dubai
- Al Futtaim Auto Mall Abu Dhabi
- Sky motors Dubai
- Cash your car UAE Dubai
- Auto Trust Dubai
- Sun city motors Dubai
- Exotic cars Dubai
The above mentioned are places which deal with used cars, and you might get a pretty good price for your car. The seasonal trend in new car sales has a ripple effect on the cost of used cars.
Things to know before buying Used Cars in Dubai
- Avoid buying used convertibles in the spring or summer – wait until winter to have much lower demand.
- March and September are the peak months for new car sales, usually through partial exchange transactions. Therefore, dealers will have a large number of used cars for sale, which will put you in a good position in the negotiations.
- Dealers are also often keen to clean used cars in July and early August for new models and to change license plates on September 1.
- December and January are quiet months for used car transactions. People don’t care about cars before and after Christmas and New Year, so dealers and private sellers are eager to close deals.
- I am buying four-wheel-drive cars in the summer, due to bad weather, demand peaks in late autumn and winter.